Why MicroVision Inc. (MVIS) stock plunged on Wednesday?

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AI Stocks
AI Stocks

MicroVision Inc. (MVIS) shares plunged 11.33% in after-hours on Wednesday, January 05, 2021, and closed the daily trading at $4.38. Even in the regular trading session of Wednesday, MVIS’s stock lost 12.72%. MVIS shares have fallen 5.54% over the last 12 months, and they have moved down 3.14% in the past week. Over the past three months, the stock has lost 53.13%, while over the past six months, it has declined 67.92%.

Let’s see what are the latest news about the company?


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Upcoming MVIS Webcast

MicroVision, Inc. (MVIS), will conduct an Investment Community and Press Webcast on January 5, 2022, at 2:00 pm PT. The Company’s Investment Community Webcast and Press Conference Webcast, previously announced as separate webcasts, are combined into one webcast on January 5, 2022, at 2:00 PT.

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MVIS virtual participation for CES 2022

On December 31, 2021, MicroVision, Inc. (MVIS), announced that due to the quickly evolving COVID-19 infection rates and uncertainty around the Omicron variant, the Company will shift to a fully virtual presence for the 2022 Consumer Electronics Show (CES).

Lidar sensor technology at CES 2022

On December 8, 2021, MicroVision, Inc. (MVIS), will showcase its automotive lidar sensor technology on the exhibition floor and in privately scheduled meetings throughout CES® 2022 on January 5-8 in Las Vegas.

The company did an initial public demonstration of automotive sensor technology in September at the IAA Mobility Show in Munich. At CES the company is going to further highlight the capabilities of the sensor and engage with potential customers, partners, and the investment community.

MVIS participation in a consortium

On December 1, 2021, MicroVision, Inc. (MVIS), announced its participation in a consortium working to develop a standard specification and testing framework for automotive LiDAR sensors.

MicroVision being one of just three lidar developers selected to participate, the project will provide common sensor specification and characterization guidelines, as well as a common and application-relevant evaluation framework.

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Conclusion

Well, as of this writing, there is no valid reason for its poor performance on Wednesday. We hope that it will bounce back in the coming trading sessions on Thursday.

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