Hindenburg calls out Microvision as a “corporate husk with almost no revenue or intellectual property value.”
Microvision has over 250 patents, but only 10 mention Lidar and are geared towards consumer/non-automotive use, according to the report.
“The recent excitement all belies the fact that MVIS is essentially a science project that has gone nowhere over 25 years,” said Hindenburg.
The report assigns a $1.50 price target to Microvision stock. The report also hints Microvision could dilute investors with an equity offering with the increase in the share price.
MVIS Price Action: Shares of Microvision are up 31% Tuesday to $7.56 at publication time. Shares are up over 700% year to date.