Over the course of the last few days MicroVision, Inc. (NASDAQ: MVIS) stock has garnered a lot of social media attention after it skyrocketed more than 100%. As things stand, MVIS stock recently broke its $6 resistance and is continuing to move along its upward trajectory while its short interest continues increasing. In light of this, MVIS appears to be a prime short squeeze play to watch closely over the coming weeks.
MVIS Fundamentals
Although MVIS is considered an impressive pioneer of laser tech, the reason it is in the spotlight at the moment is not laser related. Instead, MVIS is grabbing investors’ attention thanks to its short squeeze potential with the stock running more than 100% YTD. Recently, MVIS broke a key resistance level near $6, and given the attention it is receiving, the stock may continue running to retest its next resistance at $9.82 – which would be a 34% gain from current levels.
With this in mind, MVIS is highly shorted with a short interest rate of 27% and 34% of its float on loan. If MVIS continues in its trajectory, more investors might be inclined to buy the stock to force short sellers to cover their positions which could lead to the stock soaring. In light of this, MVIS could be an interesting play to watch over the coming weeks in anticipation of a retest of the $9.82 resistance.
MVIS Financials
According to its Q1 report, MVIS’s assets increased QoQ from $114 million to $123 million which is partially due to its cash balance increasing from $20 million to $23 million. On the other hand, its liabilities drastically increased from $ 25.2 million to $36.7 million.
While MVIS increased its revenues YoY from $350 thousand to $782 thousand, its net loss increased from $13 million to $19 million, which was due to its operating expenses, which increased from $13.4 million to $21.4 million.
Technical Analysis
MVIS stock is in a bullish trend and is trading in an upward channel. Looking at the indicators, MVIS is trading above its 200, 50, and 21 MAs which are bullish signs. The RSI is neutral at 58, and the MACD is curling bearishly. MVIS recently broke a key resistance at $6 and is continuing to climb with increasing momentum. With this in mind, investors could wait for the stock to retest its support to add shares in anticipation of a run near $9.82.
As for the fundamentals, MVIS’ most notable catalyst is its high short data. Given the bullish sentiment surrounding the stock, MVIS could continue running as short sellers might be forced to cover their positions with the stock already up more than 100% YTD.
MVIS Forecast
Many investors are keeping an eye out for MVIS after it bulldozed through its resistance. As is, the stock has high short interest and appears to be on its way to retesting the $9.82 resistance. Considering the stock’s growing momentum as a prime short squeeze candidate, MVIS stock could be one to watch over the coming weeks.
MVIS Fundamentals
Although MVIS is considered an impressive pioneer of laser tech, the reason it is in the spotlight at the moment is not laser related. Instead, MVIS is grabbing investors’ attention thanks to its short squeeze potential with the stock running more than 100% YTD. Recently, MVIS broke a key resistance level near $6, and given the attention it is receiving, the stock may continue running to retest its next resistance at $9.82 – which would be a 34% gain from current levels.
With this in mind, MVIS is highly shorted with a short interest rate of 27% and 34% of its float on loan. If MVIS continues in its trajectory, more investors might be inclined to buy the stock to force short sellers to cover their positions which could lead to the stock soaring. In light of this, MVIS could be an interesting play to watch over the coming weeks in anticipation of a retest of the $9.82 resistance.
MVIS Financials
According to its Q1 report, MVIS’s assets increased QoQ from $114 million to $123 million which is partially due to its cash balance increasing from $20 million to $23 million. On the other hand, its liabilities drastically increased from $ 25.2 million to $36.7 million.
While MVIS increased its revenues YoY from $350 thousand to $782 thousand, its net loss increased from $13 million to $19 million, which was due to its operating expenses, which increased from $13.4 million to $21.4 million.
Technical Analysis
MVIS stock is in a bullish trend and is trading in an upward channel. Looking at the indicators, MVIS is trading above its 200, 50, and 21 MAs which are bullish signs. The RSI is neutral at 58, and the MACD is curling bearishly. MVIS recently broke a key resistance at $6 and is continuing to climb with increasing momentum. With this in mind, investors could wait for the stock to retest its support to add shares in anticipation of a run near $9.82.
As for the fundamentals, MVIS’ most notable catalyst is its high short data. Given the bullish sentiment surrounding the stock, MVIS could continue running as short sellers might be forced to cover their positions with the stock already up more than 100% YTD.
MVIS Forecast
Many investors are keeping an eye out for MVIS after it bulldozed through its resistance. As is, the stock has high short interest and appears to be on its way to retesting the $9.82 resistance. Considering the stock’s growing momentum as a prime short squeeze candidate, MVIS stock could be one to watch over the coming weeks.