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Why MicroVision Stock Skyrocketed Today

TheMotleyFool

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Shares of MicroVision (NASDAQ: MVIS) have skyrocketed today, up by 33% as of 11:55 a.m. EST, after the company detailed progress that it is making on its long-range lidar (LRL) sensor. It's been about three months since MicroVision's last update regarding the product.

MicroVision says it has received "necessary components and equipment" to meet the April milestone of completing A-samples of the LRL sensor. The technology company has commenced outdoor testing of important performance features of the device. The LRL sensor has been in development for over two years, and MicroVision hopes that the sensor will help enable Level 3 and Level 4 autonomous driving technology.

Image source: MicroVision.

Source Fool.com

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