Why These 24 Stocks Are Skyrocketing

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2. Microvast Holdings, Inc. (NASDAQ:MVST)

Q4 Returns as of December 31, 2024: 728%

In the fourth quarter of 2024, Microvast Holdings’ (MVST) stock price surged by a whopping 728% from $0.25 on September 30, 2024.

Analysts are also bullish on the stock and their median price target of $3.5 represents an upside of 46% from current levels. According to analysts, MVST has grown its revenue by 40.65% over the past 3 years and by 39% year-over-year.

In the third quarter of 2024, the company generated record Q3 revenue worth a staggering $101.4 million, up by nearly 27% year-over-year. At the same time, MVST’s gross margin surged to 33.2%, up from 22.3% in Q3 2023.

The battery technology company is making strides as it plans to power the next generation of electric commercial vehicles. Keeping its growth trajectory in mind, Microvast Holdings Inc. (MVST) expects FY 2024 revenue to range between $90-$95 million, representing a growth rate of 15-18%.

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