Investors lumped the company in with other electric vehicle names, but now that the dust has settled, questions are resurfacing.
Top news and what to watch in the markets on Wednesday, June 23, 2021.
Shares of Microvision (NASDAQ: MVIS) are falling today after the company announced a $140 million at-the-market equity offering yesterday. The company -- which makes microdisplays, lidar sensors, and laser beam technology -- said in a press release that the offering means "MicroVision may, from time to time, at its discretion offer and sell shares of its common stock having an aggregate value of up to $140 million" and that it may use the money for working capital or capital expenditures. "A strong balance sheet gives our potential customers and partners confidence that MicroVision is a capable and trusted long-term supplier," CEO Sumit Sharma said in the press release.