Despite a relatively negative start to the trading day for most stocks, certain companies are seeing outsized interest in today’s session. One company garnering attention among many investors is MicroVision (NASDAQ:MVIS). At the time of this writing, MVIS stock is up more than 4%. Shares also surged more than 13% over yesterday’s close at today’s high.
This move appears to be tied to an announcement from the company yesterday that it will be hosting its “Retail Investor Day” on April 14. At the event, MicroVision will outline its strategic direction and priorities. Specific focus will be paid to “revenue growth drivers for near and long-term and its vision to accelerate the industry’s shift towards next-generation safety and autonomy.”
As a key provider of MEMS-based laser beam scanning technology and lidar sensors used in advanced driver assistance systems (ADAS), MicroVision’s upcoming products and prospective revenue drivers should be of key interest to retail investors — and all investors for that matter. Let’s dive into what may be behind the impressive move in MVIS stock ahead of the event.
MVIS Stock Surges Ahead of Key Event
Investors generally prefer more information over less. This event, which will include a town hall and interactive lunch, should provide the investor community with an in-depth look into how the company expects to grow. For those bullish on MicroVision’s progress, these updates will be critical in assessing its years to come.
As a high-growth company expected to earn the vast majority of its revenues in further-out years, this outlook is vital. MicroVision, like its high-growth peers, has been hit hard over the past couple of years. Like other stocks that rallied after the pandemic, MVIS stock has given up most of its gains since.
That’s not to say another rally isn’t possible, if everything works out as planned. But right now, investors simply appear eager to learn what the plan is.
In any case, April 14 will be a key date for investors to mark down on the calendar. Between now and then, I expect significant volatility to materialize with MVIS stock.
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On the date of publication, Chris MacDonald did not hold (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.