It’s been a while since wall street bets had a definite target that the whole community could focus on and target at once. Gamestop was the first and seemingly last time the community successfully inflated the price of the stock all together, but since then the group have splintered off into their own favourite stocks. But that might be about to change.
MVIS otherwise known as MicroVision by most people in the finance space make laser vision technology for 3d sensing, image capture and and projectors. The companies directors regularly mention in earnings releases that the company are willing to be acquired for the right price which may have gotten the initial attention of the WSB community.
The business itself isn’t too impressive, with a massive 300x revenue to valuaiton multiple its a strange target for WSB but yet it’s the one they want to be apart of the most. Users on the forum have YOLO’d unbelievable sums of money in the hope that the stock will shoot up higher next week. One investor has put in a total of $1.1 million. Outstanding!
We will have to wait and see if they end up being even more successful than they already have been with this trade. Last week alone the companies stock price increased by more than 70%! Given the media attention now surrounding these trades going into Monday, I think it’s entirely likely that the stock continues to move higher but we will have to wait with baited breath to see how this one develops.