US Stocks Move | Microvast drops more than 34% pre-market as Q1 revenue halves and adjusted EBITDA turns from profit to loss

```htmlGolden Ten Data May 12｜Lithium battery company Microvast (MVST.US) sharply fell more than 34% in pre-market trading. According to reports, Microvast released its Q1 2026 financial results after the market close on May 11. Due to delivery schedules, geopolitical dynamics, and changes in Asia-Pacific market demand, revenue for the quarter dropped 48% year-on-year, and adjusted EBITDA turned from profit to loss. However, in the financial report, the company unveiled its new electric powertrain (KAF™) targeting the US school bus market and its next-generation 290Ah battery pack, making the phase 3.2 expansion of the Huzhou factory the key catalyst for the year.```