Why MicroVision Gained 211% in the First Half of 2021
Shares of technology outfit MicroVision (NASDAQ: MVIS) rallied 211.3% during the first half of this year, according to numbers provided by S&P Global Market Intelligence. Nearly all of that upward move unfurled in February, during a period of widespread bullishness about the electric vehicle industry. But perhaps more important, the stock's gains came despite a warning about MicroVision from short-selling research firm Hindenburg.
Don't look for a specific reason why MicroVision soared like it did. You won't find one. The company -- which makes automotive safety and autonomous vehicle technologies -- was mostly caught up in a rally that lifted many related names including Blink Charging (NASDAQ: BLNK), Fisker (NYSE: FSR), and even Ford (NYSE: F). The Biden administration is supportive of efforts to transition away from gasoline-powered vehicles to electric automobiles, and the market responded to the prospect of that support helping to accelerate EV adoption.
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Source Fool.com
