If you had bought Microvision, Inc. (NASDAQ:MVIS) stock after the recent fall, they must be very excited this week as the stock has rocketed about 70% so far this week.
By afternoon trading, the stock is up by a whopping 35% at $17.77 on massive volume. Although the stock has cooled off a bit from a session high of $19.14, momentum is still in favor of the stock.
MVIS stock is one of the biggest gainers for this year with a YTD gain of over 140%. This week’s rally was driven by more attention from Reddit’s WallStreetBets subreddit.
Now after this week’s gain, all eyes would be on the company’s upcoming first-quarter earnings which is scheduled to be out on April 29th after the market close.
But do not forget like any other Reddit-driven rally, MVIS stock may experience very high volatility in coming sessions. So trade MVIS stock accordingly and do not take a big risk.