MicroVision Inc has been a hot topic lately, with its shares soaring to 47% earlier this week. This has led many to believe that the meme stock trend isn’t wavering in the slightest, and that we may continue to see the fruits of its labor in the future.
A company that develops laser-scanning technology, MicroVision Inc received a major boost from the Reddit forum WallStreetBets, where it was apparently the most discussed stock on Monday.
In addition to MicroVision, other retailers such as GameStop, Koss Corp, and AMC Entertainment received a lot of discussion on WallStreetBets as well.
According to Cherry Lane Investments partner Rick Meckler, “I think it’s retail coming back in to start the week. The meme stocks tend to be more emotional for investors and very momentum-driven.”
“This market has been highly speculative at the edges for months,” he continued. “Retail interest appears to remain strong for high-beta speculative names.”
Shares for MicroVision closed at $26.44 on Monday, but not before soaring all the way up to $27.80 during a heavily powered trading session. As far as year-to-date goes, its stock’s percentage is at a whopping 391%.
