MicroVision Stock Veers Lower on Stock Sale

The stock has staged an impressive rally year-over-year

Deputy Editor
Jun 22, 2021 at 10:25 AM
facebook twitter linkedin

The shares of MicroVision Inc (NASDAQ:MVIS) are down 9.7% at $17.65 at last check, after the laser beam scanning (LBS) technology company announced plans to sell $140 million of its stock from time to time. The profits from the sale, which will be handled by Craig-Hallum, will go toward general corporate purposes. 

MVIS has been on quite a rollercoaster since the start of the year, with support at the $10 level catching the stock's steepest pullbacks. Posting a massive 942% year-over-year lead, the equity recently hit an April 27 11-year high of $28. Shorter term, support at the 40-day moving average appears to be serving as a floor for today's negative price action. 

Analysts are bearish on MicroVision stock, with both of the two analysts in coverage sporting a tepid "hold" rating. Meanwhile, though shorts have been slowly jumping ship, short interest makes up 21.5% of the stock's available float. 


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1