Why MicroVision Stock Got Decimated Today
Shares of MicroVision (NASDAQ: MVIS) have gotten decimated today, down by 25% as of 2:30 p.m. EDT, after the company reported disappointed second-quarter earnings. The computer vision specialist continues to look for a buyer after it said earlier this year that it was hoping to sell itself.
Revenue in the second quarter got cut in half to $600,000, which resulted in a net loss of $2.3 million, or $0.02 per share. The computer vision company, which develops lidar technology for augmented reality and automotive applications, finished the quarter with $7.8 million in cash on the balance sheet.
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Source Fool.com
