Mvis Stock – Microvision (MVIS) stock has been on fire, gaining a whopping 2,632 percent this year. However, the stock fell nearly 10% in February. 25, and fell on February 26 in earlier trades as well. Overall, it fell more than 33 percent from its 52-week high. Is MVIS stock a good buy now?
MicroVision works with lidar technology used in autonomous cars. The outlook for autonomous driving is promising, especially with giants Alphabet and Microsoft throwing their weight around in the space.
On February 22, Microvision followed Tesla and NIO in completing a $50 million stock offering and used its stock price peak as an opportunity to issue new shares. Although CEO Elon Musk denied the need to raise capital in January 2020, Tesla issued shares three times. Recently, cannabis company Sundial Growers also issued new shares (SNDL). While Tesla and NIO shares rose after the cap hike, the market saw SNDL and MVIS differently and their shares fell.
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On February 11, Microvision provided an update on its long-range lidar sensor technology. The company says it expects to receive A-samples by April 2021 and has begun testing the technology outdoors.
WallStreetBets, a Reddit community that promotes shares of GameStop and AMC Theaters, is also bullish on MVIS. One comment, upvoted more than 1,500 times, called Microvision’s technology superior to competitors and suggested MVIS stock was undervalued.
Since MVIS was a penny before this recent rally began, most analysts did not cover it. Microvision has a market capitalization of $2.4 billion after its share price surge.
Microvision works with Lidar technology, which Musk isn’t a fan of. Although Nikola, Toyota Motors and Hyundai are all working on hydrogen cars, Musk is also pessimistic about hydrogen fuel cell technology. NIO, also known as the “Tesla of China”, has used lidar technology in its upcoming sedan, the ET7.
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Lidar shares took a hit late last year when reports surfaced that Apple would launch an EV (electric vehicle) in the middle of this decade. Reports suggest Apple is scrambling to find a partner for the EV project, codenamed “Titan.” The iPhone maker is said to be in talks with Hyundai-Kia Motors and Nissan for an EV partnership. However, both Hyundai-Kia and Nissan have denied the talks exist.
Many speculated that Apple would buy Microvision. The purchase fits well with its EV and autonomous driving plans.
It’s the market that’s actually bringing back even the crappy junk in America… $MVIS is now (pre-market, at least) a $20 stock, lol!!! — Stanphyl Capital (@StanphylCap) February 11, 2021
MVIS stock has been wild recently, boosted by developments in its lidar technology and a potential acquisition by Apple. If the company’s lidar technology is successful, it could be a gamechanger for stocks. However, like all other companies working with new technology, Microvision is subject to implementation risk. Interestingly, according to Musk, most of Tesla’s value comes from its mobility business, not cars.
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MVIS shares seem to be selling off after the rally. However, if its price falls further, investors may consider buying the stock. Microvision was the standout company in the March 2020 correction. This set a low of 18 cents during that period. From that low, it recently recovered to a high of $31.14 as its technology could be used in the automotive industry, among other sectors. Let’s see what they do as a company:
Microvision, Inc. An American company that develops laser scanning technology for projection, 3D sensing and image capture. Microvision’s display technology uses a microelectromechanical system (MEMS) scanning mirror with red, green, blue, and infrared lasers, optics, and electronics to project and/or capture images. The company licenses its products primarily to original equipment manufacturers (OEMs) such as STMicroelectronics.
The MEMS scanning micro-mirror is the foundation of the Microvision technology platform. The MEMS design consists of a silicon device with a millimeter-scale mirror in the center. The mirror is flexibly mounted, allowing it to swing vertically and horizontally to reflect (or capture) an image.
The projection mode MEMS laser beam scanning display method is similar to raster scanning on a cathode ray tube (CRT) display. Product applications include mobile projection virtual retina displays, head-mounted displays, and automotive head-up displays. The manufacturer Blackview has also used the technology in smartphones.
Microvision, Inc. 2020 Annual Report & 2021 Proxy Statement
So why the massive 17,700% rally? Their LiDAR technology is being adapted for use in the automotive, mapping and photography sectors, which are expected to be a $2.9 billion industry by 2027. Recently, acquisition rumors have also been stirred. But, let’s see what the chart says about this company!
March 2020 low to medium term view. It took some time for the stock to pick up momentum. The stock turned upside down in a nested structure that turned into a November 2020 low. Since then, the rally has really caught on.
In 3 months, the stock (2) moved from a low of 1.52 to a high of 24.18. After that, there was a correction on April 19 with Red II falling to 10.01. Since then, there was another sharp rally that set a new high at 31.14. Prices have now bottomed out from that high, returning to the blue box extreme zone where a bounce could occur.
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Elliott Wave Forecast Live technical forecasts of Stocks, ETFs, Indices, Forex, Commodities, Crypto and more. According to over 10,000 successful traders, one quality lacking in today’s society is the ability to accept that two opinions can be true at the same time. In the case of Microvision ( NASDAQ:MVIS ) , it’s true that the company may have game-changing light detection and ranging (lidar) technology for autonomous vehicles. But it is also true that autonomous vehicles are still a long way off. Before investing in MVIS shares you need to resolve those two issues.
Of course, retail investors who have driven MVIS stock to a 52-week high of $28 a share don’t want to accept either stock. And with MVIS trading around $10 at the time of this writing, you can make a lot of money. However, you may also be carrying a heavy bag.
I understand why investors want to capture the exciting side of the Microvision story. But I think the MVIS stock price figure that goes with that narrative is a few years out of date. At least to a sustainable level.
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I don’t blame Microvision for focusing on lidar that could be used in autonomous vehicles. Indeed, that may be what attracts retail investors to MVIS stock. However, the pandemic has stalled the development of autonomous vehicles. There are several reasons for this.
First, the technology relies on semiconductor chips, which are in short supply. But secondly — and for this, I refer you to an article by Josh Enomoto — the automakers have problems. The development and more importantly the testing of automated technology may not be high on the priority list.
Another problem is that these delays give the competition time to catch up. Lidar technology is in a race to the bottom as competitors try to see who can build the lidar system at the lowest cost. Now Microvision may be the best, but it’s not the cheapest.
The delay in bringing autonomous driving to market means that if Microvision does indeed sell, according to the company, it may be difficult to find a buyer.
All You Need To Need To Know About Microvision, Inc. (mvis)
As of this writing, short interest on MVIS stock is over 17%. In itself, it is not very dangerous. However, short interest has increased approximately 8.5% over the past 30 days. And as I look around the chat room, I see some investors looking for a small opportunity.
That’s what I mean by sustainability. On two separate occasions in 2021, MVIS stock got swept up in meme stock mania. But this is not a sustainable narrative for stocks.
I also note that Microvision is not a pre-revenue company, and it does not always meet its revenue targets. Of course, it’s not something that some consumers can’t change. But this is another area where the company seems to be falling short.
As investors continue to focus on autonomous driving, the real opportunity for Microvision may be augmented reality/mixed reality. This is another growing market and Microvision holds key patents. In Augmented Reality (AR), Microvision has created a module that helps create stylish and useful AR glasses.
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In the field of mixed reality, microvision is already being used.
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