Why MicroVision Stock Rocketed More Than 30% Today
Shares of lidar technology company MicroVision (NASDAQ: MVIS) were skyrocketing on Tuesday, up more than 30% as of 12:35 p.m. ET. MicroVision is a small-cap stock that makes almost no revenue and generates losses, but due to its relatively high short interest, it has become a meme stock pushed on the Reddit message board wallstreetbets. With meme stocks, any small announcement can generate a huge amount of buying power, and there was actually some positive news for MicroVision today, although its ultimate importance is hard to determine.