Today, shares of MicroVision (NASDAQ:MVIS) closed the day up 47%. Investors bid up MVIS stock on anticipation a short-squeeze could be brewing.
Indeed, we’re back to the old short-squeeze discussion again.
Other top short-squeeze favorites were also up big today. However, the near-50% move in MVIS stock eclipsed its meme stock peers.
MicroVision’s short volume ratio sits at around 20% at the time of writing. That’s high, but not nearly in the short interest range other high-profile meme stocks saw prior to the fabled short-squeeze mania earlier this year.
However, investors seem keen on the idea of squeezing the shorts once again, using MVIS stock as the conduit. Here’s more on the squeeze attempt that appears to be underway.
Bulls Looking to Squeeze Shorts Out of MVIS Stock
As InvestorPlace Web Editor Vivian Medithi pointed out in a recent piece, this squeeze play has been ongoing for approximately one week now. Over the past week, shares have more than doubled as the Reddit army prepares for a new battle.
As Medithi pointed out, MVIS stock has been gaining a lot of attention on social media. It’s been among the most-mentioned stocks on r/WallStreetBets for the better part of a week now. It appears the preferences of which stocks retail investors are targeting is shifting rapidly. Getting in early on which company could have the next parabolic surge is what investors are focusing on right now.
Short squeezes are typically very rare occurrences, and the fact that we’ve seen quite a few this year is likely to make 2021 a year that’s talked about in MBA classrooms and boardrooms around the country for some time.
I’ll be watching the excitement on MVIS stock from the sidelines. However, I wouldn’t be surprised to see this momentum continue for at least the next few days, if not longer.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
