MicroVision Inc. (MVIS) stock started the Monday, June 21, 2021 trading by gaining 3.82% and close the Monday trading at $19.56 per share. but in the after-market session, MVIS stock plummeted 11.86% and closed at $17.24 per share. MVIS shares have risen 1212.75% over the last 12 months, and they have moved down 8.47% in the past week. Over the past three months, the stock has gained 8.85%, while over the past six months, it has plunged 291.98%.

Let’s have a look at MVIS recent news and developments

$140 Million Equity Facility

On June 21, 2021, MicroVision, Inc entered into a $140 million At-the-Market equity offering agreement with Craig-Hallum Capital Group (Craig-Hallum).

The net proceeds from the offer will be used for general corporate purposes, working capital and capital expenditures.

New appointments

On June 17, 2021, MicroVision, Inc appointed Drew Markham as General Counsel, reporting to Chief Executive Officer Sumit Sharma.

Markham will bring more than 20 years of experience advising publicly traded technology companies in corporate governance.

Participation at the upcoming IAA Mobility 2021show

On June 15, 2021, MicroVision confirmed that it plans to exhibit its automotive lidar sensor at the IAA Mobility 2021 show at the Munich Trade Fair Center from September 7-12, 2021, which was canceled in 2020 due to the Covid-19 pandemic.

Inauguration on Russell 2000 Index

On June 10, 2021, MicroVision, Inc announced that it is set to join the Russell 2000 Index after the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28, according to a preliminary list of additions posted June 4.

Recent financial results announcement

On April 29, 2021, MicroVision, Inc released its first-quarter 2021 results.

Q1 2021 financial highlights

• MicroVision earned a revenue of $0.5 million for Q1 2021 compared to $1.5 million for the first quarter of 2020. 

• It suffered a net loss of $6.2 million, or $0.04 per share, compared to a net loss of $4.9 million, or $0.04 per share in Q1 2021 compared to a net loss of $4.9 million, or $0.04 per share for the first quarter of 2020.
• Total operating expenses were $6.7 million for Q1 2021 compared to $5.04 million in Q1 2020.
• As of March 31, 2021, the company had $75.3 million in cash and cash equivalents, compared to $16.9 million at the end of the fourth quarter of 2020.

Conclusion

Well, we have only one recent news which is not a negative one so MVIS loss in the after-hours on Friday does not make any sense. It may bounce back on Tuesday.