Looking at MVIS, there has been alot of internet hype about the stock. It's tough to nail down exactly why it is rallying, but I suspect its purely due to short squeeze mechanics. The shares available on iborrowdesk have shrunk to as little as 59 shares available and the fee has jumped to 59%. Considering how heavily shorted this is and how short sellers have learned how to better control these situations after GME and other meme stock run ups, the smart money is saying its going back to where it came from.
I can remember playing BBBY back in August and similar mechanics were at play. MVIS has run up from about 1.82 low to now to a high of 7.27 or almost a 4 fold run up. BBBY ran from about 5 bucks to 30 for a 6 fold run up which really only stopped because Cohen sold his stake. So there may be more gas in the tank.
MVIS also had a similar run from about $1.80 to $7 back in 2020 leading into 2021. From there it was able to achieve a price of 24 and several months later 28. However this go around, there is no stimulus money available to the public or easy loans for people to take out and yolo on the stock. Considering the liquidity necessary to carry the squeeze on is not there and retail primarily only buys options, I'd say MVIS is primed for a nice run back down to about 5.30 (where it came from today) into the end of this week.
After this downturn which is likely to be a daily grind down, it may be a good time to look at going long again until you see another blow off top on very big volume.
Going long again due to another hype cycle via an event they are participating in June:
MVIS ADAS & Autonomous Vehicle Technology Expo in Stuttgart on June 13-15. Will showcase MAVIN and MOVIA lidar sensor product line. Visitors can also catch MOSAIK Suite.
I like the idea of everyone in over $4 being wipped out and that probably presents a good long price point. It posted 30M today in volume which is almost up there in terms of 12 month volume highs. The company posted earnings on the 9th losing $19 million in the 1st quarter and made only 782k in revenue. 2022 saw only about 600k in revenue compared to just 2017 with 17.61 Million in revenue (pretty sharp decline).
So MVIS is either going into the ground tomorrow and friday. Or it resists going lower and powers into June 13-15. The news whatever it is on June 13-15 will be no different of an effect than how AAPL just had a nice decline into their event. Plan accordingly
[link] [comments] https://www.reddit.com/r/stocks/comments/142u6ys/mvis_looks_to_present_an_attractive_short/
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