MVIS Stock: 10 Things to Know as MicroVision Stock Eyes Big Gains

MicroVision (NASDAQ:MVIS) is continuing a prosperous week. The technology company has been breaking out in the last few days thanks to some Reddit hype. Earlier in the week, we reported 20% gains in a single day for MVIS stock. Today, the company is gapping up over 31%, and there is no concrete news about the company that is catalyzing these gains. Most of the run is due to a lot of love on the r/WallStreetBets subreddit.

Graphic demonstrating self-driving car technology

Source: Shutterstock

With MicroVision up big in the last few days, there are some things that investors need to know about the company. Let’s take a look at what is moving MVIS stock this week:

What to Know About MVIS Stock Right Now

  • MVIS stock has grown over 5,000% in the past year, with investors throwing their support behind MicroVision as an AR tech play.
  • LiDAR tech is getting a lot of attention this week as MVIS competitor Luminar (NASDAQ:LAZR) has brought on two new executives from Intel (NASDAQ:INTC) and Tesla (NASDAQ:TSLA).
  • The big news for a competitor is a hit to MicroVision. But, the company is still growing thanks to an outpour of support on Reddit.
  • The support for MVIS spiked so high this week on Reddit because Jim Cramer said to avoid it on Mad Money.
  • On his program, Cramer says that there are “better fish to fry.” He adds that MicroVision is too risky with its high volume of short positions.
  • InvestorPlace Web Editor Vivian Medithi reported on Wednesday that the MVIS ticker overtook GameStop (NYSE:GME) in volume of mentions on r/WallStreetBets at the beginning of the week. It looks like the posts won’t slow down either, as Reddit has fueled a MVIS-shaped rocket on its own accord.
  • MVIS stock might see gains of its own doing soon. The company will be announcing its first-quarter earnings next week.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/04/mvis-stock-10-things-to-know-as-microvision-stock-eyes-big-gains/.

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