AAL

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 X logo 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. 

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.