Tech Trader: Microvision Plunges On Negative Seeking Alpha Post

Jun.23.08 | About: Microvision, Inc. (MVIS)

Microvision (NASDAQ:MVIS) shares are sharply lower this morning on a highly negative post about the company on the investment blog aggregation site Seeking Alpha.

The post is attributed to someone named Liam Mulcahy, who is described as someone who “works in a hedge fund that is short Microvision.” The hedge fund isn’t named; and I can’t find anything else on the author. Anyone know who he is?

Microvision is developing pico projectors, which as the name implies are very small projectors designed to be embedded in small devices. A projector company called Optoma last week unveiled a pico projector using rival technology from Texas Instruments (NASDAQ:TXN). (In this case, you would hook up your cell phone or PDA to the projector for a large display of pictures or other images.) The post asserts that Microvision’s own projectors, known as The Show, continue to fall behind schedule, and that Microvision is facing a cash crunch.

That all may well be true, but the fuzzy ID for Mulcahy - and the willingness of Seeking Alpha to post material of unclear origin - makes me a little queasy.

Disclosure: some of the posts from Tech Trader Daily are also carried on Seeking Alpha.

MVIS Monday is down 50 cents, or 14.7%, to $2.90.