Microvision Options Traders Are Betting On A Big Rebound

By Melanie Schaffer8 days ago

Microvision, Inc. (NASDAQ: MVIS) rebounded over 13% by Tuesday afternoon following a five-day sell-off where the stock fell from its April 27 all-time high of $28 to $12.80 Tuesday morning.

Some traders would call Microvision “crowded” because of the recent hype of retail traders in the stock following a Reddit-fueled rally. The rally swiftly ended, however, after Microvision reported a first-quarter 2021 earnings miss which caused the stock to plummet 21%.

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Microvision reported revenue of $0.5 million, $1 million less than the same period last year. The company reported a loss of 4-cents per share, which missed the Street’s estimate of a loss of 2 cents.

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