The shares of Microvision, Inc. (NASDAQ:MVIS) nosedived in after-hours on Thursday reacting to the company’s first-quarter 2021 results.
During the latest quarter, revenue came in at $0.5 million, down 2/3rd from a year ago quarter revenue of $1.5.
Moreover, Net loss during the quarter stood at $6.2 million, or 4 cents a share, compared to a net loss of $4.9 million, or 4 cents a share for the first quarter of 2020.
Microvision’s has $75.3 million in cash and cash equivalents, compared to $16.9 million at the end of the fourth quarter of 2020.
MVIS stock slid over 21% in the after-hours session at $14.19. The stock had been very volatile over the past few trading sessions and the stock went almost 175% from April 20 to April 27. However, after reaching a new high of $28, the stock is now down about 50% in a matter of 4 sessions.
MVIS stock is up 7400% from its 52-week low of $0.24. The stock has a 50-day and 200-day moving average price of $15.47 and $6.77.
So get ready for another volatile session for MVIS stock.