Why MicroVision Stock Crashed 31% in April
Shares of MicroVision (NASDAQ: MVIS) plummeted 30.8% last month, according to data provided by S&P Global Market Intelligence. MicroVision is a so-called meme stock that has attracted attention from speculative stock traders talking about it on Reddit investing message boards.
The tech stock cratered in April as investors processed several bits of news, including MicroVision adding a new board member, and as the overall market experienced a significant drop.
Some of MicroVision's share price declines in April could be attributed to the S&P 500 sliding nearly 9% during the month. Investors were fleeing growth stocks in April, including many tech stocks, as they anticipated a Federal Reserve interest rate hike at the Fed's May meeting.
Source Fool.com
