MicroVision, Inc (NASDAQ: MVIS) shares closed over 47% greater within the common session on Monday and spiked one other 9% within the after-hours buying and selling.
What Occurred: The know-how firm has cemented its place as a “meme inventory” and is spiking for the second straight session primarily based on social media momentum.
At press time, it was probably the most talked about inventory on r/WallStreetBets, the Reddit discussion board greatest recognized for carrying on the GameStop Company (NYSE: GME) quick squeeze earlier within the yr.
In accordance with Quiver Quant information, MicroVision attracted 2,532 mentions on WallStreetBets adopted by GameStop at 1,302.
Why It Issues: Rick Meckler, a companion at Cherry Lane Investments, a New Jersey-based household funding workplace, mentioned that he thinks “it is retail coming again in to start out the week,” Reuters reported.
“The meme shares are usually extra emotional for traders and really momentum pushed.”