Price chart for turquoise and purple black

The company will report its first quarter results after it closes tomorrow

The shares of Microvision, Inc. (NASDAQ: MVIS) ahead of the Laser Beam Scanning (LBS) earnings report for the first quarter released after tomorrow April 29th. Microvision’s announcement that it has completed the long-range lidar demo is sure to help stocks too. On the latest review, MVIS rose 17.5% to trade at $ 23.68.

MVIS has seen some incredible price moves in 2021 since it broke out of the penny stock territory late last year. And although the stock’s performance has been downright volatile, the $ 10 level and 100-day moving averages appear to have bottomed the charts. That volatility was pretty evident this week as the stock shot to a new all-time high of $ 28 yesterday, shortly after hitting the trend of lower highs. The stock made up most of those losses during today’s trading, and is now roughly 9,490% ahead of last year.

MVIS April 28th

Despite those outrageous 12 month returns, short sellers have come out in droves, up 30.3% over the last two reporting periods. The 31.42 million stocks sold now account for more than a quarter of the security’s available float, which could result in a brief squeeze if some of these bears start to change their minds and jump the ship. However, traders should take into account that MVIS has landed on the Short Sale Restricted (SSR) list today.

Options traders today circle closely around the volatile stock. So far, 111,000 calls and 38,000 puts have changed hands – three times the intraday average. The May 25 call is the most active, closely followed by Call 35 in the same series.

MVIS tends to take oversized strides after reporting results. Over the past two years, the average next day value of the security has been 14.5%, regardless of direction. That includes a pop of 17.8% after the last earnings report in early March and a drop of 25.3% after the quarterly release in August 2020. This time around, the option pits are pricing in an even bigger move of 40.9%.


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