Maybe I'm delusional, but the facts appear to me as NVX doing an outstanding job applying for low-interest government loans, and tax credits, wherever possible.
Approval of said applications is not something NVX management controls, so I'm not following the logic of witholding performance rights, if and when some of the optional grant applications fall through. Today's drop seems expected on news of missing the 48C approval, but it's not breaking all the other positive factors in play.
The 48C miss does probably mean they will fill all 5M of the SPP (assuming that was all applied for), and likely more (if there was excess in the application).
With the new US king taking office on Jan 20th, watching how the broader EV market strings will be affected, will be waaaaay more interesting and impactful to follow than the paper tiger downrampers here with no holdings. Clearly here out of the goodness of their hearts, of course.
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