Shares in the penny stock of MicroVision Inc. (Nasdaq: MVIS) exploded in the last trading session more than doubling from Friday’s closing price. MVIS stock gained as much as 119.51% before closing at $2.59, up 110.57%, on volume of 3.65 million. The jump in the stock price of MVIS shares was directly connected to the $5 million equity financing the Company agreed to with private investors in reaction to the Nasdaq warning the Company received last week.
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MVIS Stock Chart
Market Cap: 44.15M
Price/Sales (ttm): 7.09
Price/Book (mrq): 31.98
(Jun 2, 2011): 12.40
(May 17, 2012): 1.11
50-Day Moving Average: 1.88
200-Day Moving Average: 2.93
Avg Vol (3 month): 318,906
Avg Vol (10 day): 703,500
Shares Outstanding: 17.05M
% Held by Insiders: 0.78%
% Held by Institutions: 16.40%
(as of May 15, 2012): 2.61M
The Company received roughly $5 million from selling 3.34 million shares of MVIS common stock and warrants to purchase an additional 1 million shares of MVIS common stock at an exercise price of $2.12 per share. MicroVision’s market capitalization is still 5.85 million below the Nasdaq threshold minimum of $50 million which the Company has until November 12 to reach.
About MVIS Stock
MicroVision Inc. is a provider of the PicoP® display technology platform which is designed to enable next-generation display and imaging products for consumer devices, vehicle displays and wearable displays. MicroVision’s PicoP projection display technology uses highly efficient laser light sources which can create vivid images with high contrast and brightness. Additionally, the Company is an independently recognized leader in the development of intellectual property.
The Company has been recognized by IEEE as a top 20 IP portfolio among all global electronics companies, and the top U.S. Company in the rankings. The Company’s IP portfolio has also been recognized by the Patent Board, in association with the Wall Street Journal as a top 50 IP portfolio among all global industrial companies. The Patent Board has developed more than 50 indicators that track global patent activity relating to companies’ innovation, technology, and science strengths. The Company’s IP portfolio is further recognized by having been added to the Ocean Tomo 300 Patent Index, an Index which is priced and published by the NYSE Euronext (NYSE: OTPAT).
Bottom Line: The gain in MVIS stock led all the NYSE, Nasdaq and NYSE Amex listed penny stocks in the last trading session, but is unlikely to occur again. Had MVIS shares jumped due to something other than moving some numbers form one column to another, they may warrant being added to the list of stocks to watch. However, MVIS appears to be a one and done for appearing on the best online resource for penny stock information.
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