Many believe that self driving cars could be the next big thing in the automobile and anyone interested in investing in the sector could consider taking a look at the MicroVision (NASDAQ:MVIS) stock, due to the company’s specialty in lidar technology.
That being said, the stock has fallen sharply in recent times and much of that is due to the company’s poor performances n the latest quarter.
In April the stock hit its highest level in 52 weeks of $28 a share but it has corrected sharply since and is now trading at $19.05 a share. Hence, it could be argued that if another upward move is on the cards for the MicroVision stock then it might present an opportunity for investors who want to enter now.
Moreover, there is speculation that the company could be sold and that is another factor that might bring in some bullish sentiments for the stock. Investors could do well to keep an eye on the developments with regards to MicroVision.
Market Action
MVIS stock closed higher by 6.13% to close at $19.05. Total volume was 30.27 million shares, compared to its 30-day average volume of 26.23 million shares.
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