Technology firm MicroVision Inc. is picking up steam after retail investors on Reddit’s WallStreetBets piled into its shares, the WSJ reported.
- MicroVision shares have surged over 7,600% to trade close Tuesday at $20.16 from less than $1 in April 2020 after being the most mentioned stock on popular Reddit group WallStreetBets.
- An earlier post on the platform showed a screenshot of an MVIS position valued at $1.1 million, indicating a YOLO trade, referencing “you only live once.”
- The laser-beam scanning technology firm was one of the top searches on Google on Monday and Tuesday.
- Posts on TikTok with #mvis in the caption gained over 220,000 views.
- Shares were above $26 on Monday, when mentions were recorded at 3,500 or roughly double the mentions of GameStop’s ticker GME during the peak of its trading.
- It was the most-bought stock of individual investors on Monday, recording roughly $56 million in purchases.