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

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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.

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