Why MicroVision Stock Is Skyrocketing Today
Shares of MicroVision (NASDAQ: MVIS) are soaring in Thursday's trading. The machine-vision specialist's stock was up 14.1% at 10:30 a.m. ET, according to data from S&P Global Market Intelligence.
MicroVision announced on Wednesday evening that it was canceling its plans for a new stock offering. With the threat of significant stock dilution now removed, investors are pouring back into the stock.
On June 13, MicroVision announced plans to offer at least $75 million in new stock with the potential to sell an additional $11.25 million stock within 30 days of the first offering. Following the announcement, the company's share price plummeted. Rather than risk continued valuation declines, it seems the machine-vision specialist will pursue other fundraising avenues.
Source Fool.com
MicroVision Inc Stock
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the MicroVision Inc stock is not clear.
Based on the current price of 1.03 € the target price of 3 € shows a potential of 192.11% for MicroVision Inc which would more than double the current price.
