Since I added Microvision Inc. (NASDAQ:MVIS) to my portfolio at the beginning of the year, the stock has taken a tumble, hitting the troubling low of $1.16 at the end of August.
By last Friday, it had climbed back above $3. I did not load up on shares, since Microvision is a small company that was on the verge of bankruptcy. It surged 10% on massive volume on Friday, after it received coverage and a “Buy” rating for the first time since the analysts abandoned it in droves several years ago. A small investment house by the name of MDB Capital Group gave it a target price of $6.
Microvision will probably be attending the 2007 International CES conference in Las Vegas next month, where it will unveil a special laser-based projector that will be embedded in 3G cellular handsets. This will enable laptop-sized full color projection displays for applications such as streaming video and digital TV. According to the analysts, if the company can develop this application into a functional working commercial product, it will amount to a monumental revolution that could be a phenomenal success, since the company is already fielding inquiries from leading cellular handset manufacturers.
MVIS 1-year chart:
Published originally by Globes [online], Israel business news - www.globes.co.il © Copyright of Globes Publisher Itonut (1983) Ltd. 2006. Republished on Seeking Alpha with full permission.
Disclosure: Shlomi Cohen holds a position in MVIS