MicroVision Inc. (NASDAQ: MVIS) stock surged by 4.12% at last close while the MVIS stock gains by 1.10% in the pre-market trading. MicroVision is the inventor of cutting-edge MEMS scanning technology and applications based on MVIS’s laser beam scanning methodology. MVIS integrates its hardware, software, and algorithms to provide a differentiated integrated solution for the rapidly emerging lidar sensor, virtual reality, immersive display, and commercial lidar markets, unlocking value for its customers.
What is happening?
MVIS announced on April 28, 2021 that it had finished production of its A-Sample hardware and development platform, which will be used to demonstrate main performance characteristics of its long-range lidar sensor to potential customers, partners, or parties involved in strategic alternatives.
Sumit Sharma, Chief Executive Officer of MicroVision commented:
MVIS has set an ambitious schedule in October 2020 to complete production of its A-Sample by April. MVIS is proud of their team’s talent, commitment, and execution skills. They believe that their unique, high-performance lidar sensor has the ability to advance autonomous driving and active safety systems beyond what is currently available in the market. In the third or fourth quarter of 2021, we foresee a variant of this lidar sensor to be available for purchase in limited quantities.
MVIS anticipates this lidar sensor to have the highest resolution point cloud at 10.8 million points per second while working at 30 hertz, with a range of 250 meters and a field of view of 100 degrees horizontal by 30 degrees vertical. This lidar sensor is also made to be resistant to interference from other lidars and sunlight. The capacity of this lidar sensor to output the axial, lateral, and vertical velocity of moving objects at 30 hertz is one of its ground-breaking proprietary capabilities.
In recent weeks, Microvision has been one of the most known stocks on Reddit’s message boards. Microvision is vulnerable to extreme price fluctuations due to this, as well as the large number of investors trading against its stock (more than 20% of its shares are kept short). This uncertainty is likely to persist for the next few days. After the market closes on Thursday, Microvision will announce its first-quarter financial results.