Update: Microvision Declines Comment on Stock Plunge
Late Friday, Microvision (MVIS) CFO Jeff Wilson told Tech Trader Daily that he can’t comment on the recent dramatic drop in the company’s stock price.
Wilson noted that the company at the recent Consumer Electronics Show unveiled its pico projector technology called “The Show.” He said that “from a business standpoint,” the company “continues to execute” on its business strategy. He said the reception to the CES announcements have been “great.” Wilson noted that CES also featured competitive pico projector technology at CES included Texas Instruments (TXN) and 3M (MMM), among others.
Wilson says Microvision expects OEMs to ship stand-alone pico projectors in 2008, with projectors embedded in other mobile devices in 2009.
Wilson did say that Nasdaq told him there has been “unusually high shorting activity in the stock.”
Microvision shares have fallen for nine consecutive sessions; in that period the stock has dropped 44%, from $4.50 to $2.54. On Friday, the stock dropped two cents.
It is also interesting that another Gilder stock, EZ-CHIP (EZCH) has dropped in the same timeframe on no news.
Eric, seems like that company has been tipping folks, anti FD, for 2 years. If you poke around you might bust one wide open.
SEC and NASDAQ taking a look at the shorting activity.
Best way for a company to get sued is to publicly talk about its stock (whether it’s going up or down). Letmanagement do its job and the stock will take care of itself.
This stock should be one of the hottest on the market. Anyone not in this will wish they were !
I once saw a pump and dump operation going on with a microcap several years ago. I believe I have seen it again with MVIS.
whats this thing going up on ?? fresh air?? anyone know at what price the shorts come in and eat this thing up!!
Dog with flees
Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
