MicroVision jumps after co scraps stock offering
15/06/2023 12:23
** MicroVision Inc's MVIS.O shares up 22% at $5.61
premarket after auto lidar sensor co withdraws stock offering
plans
** "We were pleased with the interest shown in the
MicroVision story but given the market volatility and recent
stock price performance, we intend to explore other capital
raising opportunities with a focus on shareholder value" - CEO
Sumit Sharma said in statement
** MVIS shares on Weds fell 27.8% to close at $4.60 after co
announced $75 mln share offering for general corp purposes
** Through Weds close, MVIS up 72% since end-Mar
** MicroVision, a retail favorite during the "meme" trading
frenzy in 2021, saw its stock trade as high as $28 in Apr of
that year
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))