Why MicroVision Shares Are Cratering Today
Shares of lidar (light detection and ranging) technology outfit MicroVision (NASDAQ: MVIS) are down nearly 20% as of midday Friday following the release of its fiscal Q3 results. The company's top and bottom lines both missed analyst estimates, extending and rekindling a pullback that's been underway since June's peak. For the three-month stretch ending in September, MicroVision lost $9.3 million on $718 million worth of revenue.