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MicroVision Shares Rise After Receiving Equipment to Meet Milestone

Sam Boughedda trader
Updated 11 Feb 2021

Practice Stock Trading

MicroVision (NASDAQ: MVIS) shares are rising pre-market after it announced it has received the necessary components and equipment to meet it's April milestone of completing A-Samples of its Long-Range Lidar Sensor.

The laser beam scanning technology firm also stated that it has started outdoor testing of crucial performance features on its development platform.

“We expect MicroVision’s Long Range Lidar Sensor, (LRL Sensor) which has been in development for over two years, to meet or exceed requirements established by OEMs for autonomous safety and autonomous driving features,” said Sumit Sharma CEO of Microvision.

“We expect our 1st generation LRL Sensor to have range of at least 250 meters and the highest resolution at range of any lidar with 340 vertical lines up to 250 meters, 568 vertical lines up to 120 meters and 944 vertical lines up to 60 meters. This equates to 520 points per square degree,” added Sharma.

The company said it believes that due to its sensor being designed on a scalable silicon wafer and laser diode technologies, it will achieve scale at costs below a $1,000 average selling price.

MicroVision’s stock price is trading 41.1% higher pre-market on Thursday priced at $19.76 per share.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.