Microvision Inc MVIS shares are trading higher by 20.6% to $6.43 Tuesday, despite a lack of company-specific news. MVIS stock is rising on heavy volume Tuesday morning with 2.6 million shares traded, nearly matching the trailing 100-day trailing volume of 2.9 million shares.
The increase in share price Tuesday is taking place as the stock trends across social media platforms. Microvision shares may also be experiencing a short squeeze. MVIS has a total share float of 175.434 million, of which 47.64 million shares are sold short, representing 27.16% of shares sold short.
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Microvision is engaged in developing a lidar sensor to be used in automotive safety and autonomous driving applications.
According to data from Benzinga Pro, MVIS has a 52-week high of $5.96 and a 52-week low of $1.82.
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