Charge Up Your Portfolio With High-Powered Tuscan Holdings Stock

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ack in early November, special purpose acquisition company (SPAC), Tuscan Holdings (NASDAQ:THCB) announced its intention to conduct a reverse merger with electric-vehicle battery firm Microvast. With that, another high-profile SPAC came into the limelight and the trading volume of THCB stock exploded.a close up of a motorcycle: A photo of an electric car with the charger plugged in.© Provided by InvestorPlace A photo of an electric car with the charger plugged in.

At that time, Tuscan Chairman and CEO Stephen Vogel reported that Microvast’s battery technology was already installed in more than 28,000 vehicles globally. Moreover, Microvast’s founder, Chairman and CEO, Yang Wu, asserted that his company was expected to generate over $100 million of revenue during the financial year.

So, we already have a compelling argument in favor of owning THCB stock. On the other hand, its share price has already increased quite a bit.

Is the stock still a ground-floor opportunity, then? That’s the billion-dollar question, so let’s start off with a deep dive into the brief but fascinating history of this fast-moving name.

A Closer Look at THCB Stock

Tuscan’s price action resembles an airplane taxiing down a runway, then taking off towards the skies.

We could say that the runway phase lasted through much of 2019 and 2020 as THCB stock stayed near $10 month after month. That’s not unusual for a pre-deal SPAC stock because investors usually wait to find out what company the SPAC will merge with before buying its shares.

After the merger with Microvast was announced, Tuscan catapulted higher, reaching $12 by early December. The share price continued upwards from there, but there were buy-able dips along the way.

The most recent price dip occurred in late December, as the shares declined from the $20 area on Dec. 28 to $17.10 on Dec. 31. Lower price points aren’t necessarily a bad thing, as they could present an opportunity to accumulate more shares.

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