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Microvast Holdings Inc. (NASDAQ:MVST) shares are trending on Thursday.
Check out the current price of MVST stock here.
MVST rose 5.76% to $6.61 in after-hours trading on Wednesday, after China's Commerce Ministry announced new export restrictions on rare-earth materials and some lithium batteries.
China's Commerce Ministry announced export restrictions earlier this week on products containing rare-earth materials and said licenses will be required to export certain lithium batteries. The rules are scheduled to take effect on Dec. 1
The new measures will require foreign entities to obtain licenses to export products containing more than 0.1% domestically sourced rare earths or those made using Chinese extraction, refining, or magnet-making technology.
Treasury Secretary Scott Bessent said on Wednesday that the Trump administration is likely to boost investments in more companies in response to China's rare-earth export restrictions.
See Also: Jim Cramer: Rare Earth Stocks Are On Fire — And That’s The Problem
The administration already holds stakes in MP Materials Corp. (NYSE:MP), Lithium Americas Corp. (NYSE:LAC) and Trilogy Metals Inc. (NYSE:TMQ).
On Monday, JPMorgan Chase & Co. (NYSE:JPM) unveiled a $1.5 trillion initiative focused on critical minerals investments.
Shares of the Texas-based battery technology company have surged 2,740.91% over the past year, closing at a 12-month high on Wednesday. The stock has also climbed 278.79% in the past six months.
Microvast has traded between $0.15 and $6.42 over the past year and currently holds a market capitalization of $2.03 billion. It has an average daily trading volume of 8.28 million shares.
Price Action: MVST closed 19.05% higher at $6.25 on Wednesday, according to Benzinga Pro data.
With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that MVST has a positive price trend across all time frames. Here is how the stock fares on other parameters.
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Photo Courtesy: Miha Creative on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
