Why Is MicroVision Stock Plummeting Today?

Microvision, Inc. MVIS shares are trading lower by 18.6% at $14.65 after the company reported worse-than-expected first-quarter EPS and sales results.

Microvision reported quarterly losses of 4 cents per share which missed the analyst consensus estimate of a loss of 2 cents per share. Microvision also reported quarterly sales of $500,000 which missed the analyst consensus estimate of $600,000. 

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Microvision is engaged in developing a lidar sensor to be used in automotive safety and autonomous driving applications. Its lidar sensor uses laser beam scanning (LBS) technology which is based on systems that include micro-electrical mechanical systems (MEMS), laser diodes, opto-mechanics, electronics, algorithms and software.

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