- NASDAQ:MVIS gains 2.75% on Thursday despite broader market selloff.
- Microvision reports progress in LRL sensor module technology.
- Investors begin to load up on MVIS as optimism for a buyout builds.
NASDAQ:MVIS has re-invigorated investor interest after a recent announcement has opened optimism about a potential buyout down the road. Shares gained 2.75% during Thursday’s trading session to close the day at $1.87. The stock of the firm based in Redmond, Washington, that builds laser beam scanning technology has trended down over the past month on a lack of any substantial news. The current price levels of MVIS are 12% lower than the 50-day moving average which indicates the downward progression of the stock over that time period.
On Tuesday, the news that investors had been waiting for was announced when Microvision reported its progress with regards to its Long Range Lidar (LRL) sensor module technology in automobiles. The technology, which is formally called MEMS Dynamic Scanning LRL, has been tested to detect objects at a range of 200 meters as well as accuracy regardless of sunlight exposure. The advancements in its LRL technology means that Microvision has an intellectual property up to its sleeve when it comes to a potential buyout from a larger company. It also positions Microvision well for the future when it comes to advancements in the autonomous vehicle industry.
NASDAQ:MVIS News
Any investor discussion about Microvision revolves around echoing the thoughts of the current CEO, Sumit Sharma, who has reiterated company's desire to be bought out by a larger company. The recent technology advancement certainly helps Microvision’s chances of being a valuable asset in the bigger picture and investors are starting to buy back in with the hopes of hitting the jackpot on what seems more and more like an inevitable buyout.
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