This morning many investors are going to be looking into those stocks which may have managed to record significant gains on Monday and one of the stocks that is likely to come on to their radars is that of Twin Vee PowerCats Co (OTCMKTS:TVPC).
Trading Data
On Monday, TVPC stock soared 37.68% to $0.0978 with more than 1K shares, compared to its average volume of 13K shares. The stock has moved within a range of $0.0978 – 0.0978 after opening trade at $0.0978
Major News
The stock was in major focus among investors yesterday and ended up with gains of as much as 38% as a consequence. Yesterday the company made an announcement with regards to its fully owned electric vehicle subsidiary unit Forza X1 Inc. Twin Vee announced yesterday that Forza signed a five year long supply agreement with American Battery Solutions related to batteries.
As per the agreement, the deal is for high powered production grade lithium ion batteries that are then going to be used in the electric boats that are manufactured by Forza. American Battery Solutions, which is based out of Michigan, is known as one of the major specialist in the battery systems space. It goes without saying that securing a supply of batteries from a major company is a significant milestone for Forza and by extension for Twin Vee. It now remains to be seen if the stock can manage to add to its gains today.
Technical Data
TVPC stock is above the 10-Day and 20-Day Moving averages of $0.0849 and $0.0830 respectively. However, the stock is below the 200-Day moving average of $0.1762.
