Microvast Shares Edge Higher as Investors Weigh Filing Uncertainty
Microvast Holdings shares rose 5.43% to $1.4550 on Friday, outpacing major indexes despite no new company news ahead of the Memorial Day market closure. The latest SEC filing showed CTO Wenjuan Mattis sold 48,346 shares for tax withholding. Microvast reported a 48% revenue drop and a $5.5 million adjusted EBITDA loss in Q1. Its 10-Q warned existing cash may not cover 12 months of operations.