MicroVision (MVIS) flies 79% after Sony (SNE) incorporates tech product

Stockhouse Editorial
0 Comments| February 20, 2014

Stock in Redmond, WA-based tech microcap MicroVision (NASDAQ:MVIS, Stock Forum) went for a quick launch into the stratosphere Thursday when it was revealed Sony (NYSE:SNE, Stock Forum) would be building a tablet/smartphone-driven projector with HD resolution that incorporates the MicroVision PicoP technology.

Sony said PicoP would help their product  deliver "crisp, beautiful high-definition resolution and ‘focus-free’ projection, regardless of the distance or angle from the projection surface."

In a news release, Sony said, "By combining this module with Wi-Fi components and a battery, it can realize a compact, pocket-sized projector which can be used to project images from products such as smartphones or tablets, focus-free and in even higher resolution, on any flat or curved surface such as a wall or desk."

MicroVision stock launched $0.88 to $2.23, up 65.1% in massive trading of 11.9m. MicroVision usually sees volume of less than 250k on a normal trading day.

The company needed the boost, having had its NASDAQ listing threatened when it dropped below $50m market cap for 30 consecutive days. The activity Thursday saw that trading cap elevate to $71m.

If the company can hold the line on share price for ten consecutive business days, its NASDAQ troubles go away.

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