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MVIS Stock: Why Is Reddit WSB Favorite MicroVision Surging Today?

MicroVision (NASDAQ:MVIS) stock is getting a major boost on Monday despite a lack of news from the laser scanning tech company.

Reddit r/WallStreetBets

Source: Marcus Krauss / Shutterstock.com

So why are shares of MVIS stock heading higher today? It all has to do with Reddit traders on WallStreetBets boosting up the price of the company’s stocks. Several traders on the subreddit have been discussing the stock this morning as its price soars with hopes that it will hit $25 per share.

Redditors running up shares of MVIS stock today have shares moving quite a bit in morning trading. As of this writing, more than 12 million shares of the stock have changed hands. That has it at about half of its daily average trading volume of about 27 million shares.

Outside of the recent news of Reddit boosting MVIS stock up, there’s nothing else to note about the company. It hasn’t released any news lately that could be connected to retail traders’ recent interest in it.

However, we have been seeing a resurgence in meme stock investing of late. It’s likely that MicroVision is just getting caught up with all of Reddit’s other favorite stocks and that’s why its shares are getting so much extra attention today.

MVIS stock was up nearly 9% as of Monday morning and is sitting about 326% higher since the start of the year.

Of course, with a Reddit stock rally taking place there’s plenty more that investors need to know about.

Luckily for them, InvestorPlace has been keeping up with the latest news concerning meme stocks and Reddit’s love for them. That includes what some of the biggest meme stocks are doing today, what to know about new meme stock RA Medical (NYSEAMERICAN:RMED), as well as news sending Bionano Genomics (NASDAQ:BNGO) shares higher. You can check out all of this information and more at the following links!

More Reddit Meme Stock News for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/06/mvis-stock-why-is-reddit-wsb-favorite-microvision-surging-today/.

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