Why MicroVision Stock Slumped on Wednesday
(NASDAQ: MVIS) shareholders continue to see elevated volatility in their portfolios. The computer vision tech specialist's shares were down by 23% as of 10:45 a.m. Wednesday, reversing some of the big gains that investors enjoyed last week. But MicroVision is still up by more than 100% so far in 2023, compared to a 14% rally in the S 500.
Wednesday's drop came after the company announced a new public stock offering in a bid to capitalize on its recent share price rally.
The offering aims to raise as much as $75 million for the business. In part thanks to a short squeeze, shares jumped by nearly 50% last week, so any public offering now is likely to more easily raise cash.
Source Fool.com
MicroVision Inc Stock
€0.86
1.600%
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 0.86 € the target price of 3 € shows a potential of 250.43% for MicroVision Inc which would more than double the current price.
