Tantech Holdings (TANH) Stock: Why It Surged 18.85%

By Amit Chowdhry ● Jun 22, 2022
  • The stock price of Tantech Holdings Ltd (NASDAQ: TANH) surged by 18.85% in the most recent trading session. This is why.

The stock price of Tantech Holdings Ltd (NASDAQ: TANH) surged by 18.85% in the most recent trading session. Investors responded positively to Tantech Holdings announcing that its subsidiary Shangchi Automobile Co., Ltd. won a new 6-vehicle order. The latest order for customized, high-end midibuses is expected to be delivered to the customer in Nigeria in July 2022.

Shangchi Automobile’s fully customizable, diesel light midibuses feature a manual 5-speed transmission and all the luxuries of a high-end bus, including a fuel-efficient, luxury travel experience with comfortable seating for 11 passengers. And with an overall length of 6 meters, the vehicles have easy USB access charging ports, powerful air conditioning and heating, a state-of-the-art air purification system, and many enhanced safety features, including rear reverse radar, high mount brake lights, power windows, UV glass and LED lights, etc.

KEY QUOTE:

“Demand for our multi-passenger vehicles continues to grow led by multiple very strong catalysts, which include the reopening of the global economy, surging fuels costs and the desire to reduce harmful emissions. Our high-efficiency midibuses check all the boxes and provide both the driver and passengers with a much more comfortable experience, while dramatically cutting harmful emissions that would have been caused if each passenger drove their own vehicle. Our team has been actively working with customers and our supply chain to secure the necessary components for the higher vehicle demand level. Longer-term, our ability to effectively service the expected higher demand level will help broaden our addressable market and strengthen our global brand as we work to accelerate our revenue growth and drive a higher value for our shareholders.”

— Wangfeng Yan, Chief Executive Officer of Tantech

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.