Microvision Inc MVIS is trading higher Friday amid increased retail investor interest in the stock.
On Wednesday, MicroVision reported a second-quarter earnings loss of 9 cents per share, which came in below the estimate for a loss of 5 cents per share. The company reported quarterly revenue of $700,000, which was up from $600,000 year over year.
MicroVision said it expects to begin selling its long range lidar product before the end of the year.
"We expect our LRL product family will be available for sale, in small quantities, beginning in the fourth quarter of 2021," said Sumit Sharma, CEO of MicroVision.
MicroVision was among the top 10 most mentioned stocks on Reddit's WallStreetBets over the last 24 hours. It was the top trending stock on Stocktwits at publication time.
MicroVision is engaged in developing lidar sensors for use in automotive safety and autonomous driving applications.
Price Action: MicroVision has traded as high as $28 and as low as $1.25 over a 52-week period.
At last check Friday, the stock was up 12.40% at $15.47.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
