Microvision Stock Gets Whipsawed by Blog Post
Stockholders in Microvision, the Redmond, WA-based maker of visual display technology, have gone on a wild ride this week. The stock fell as much as 20 percent on Monday after someone who claimed to work for a hedge fund wrote a post on a widely-read investor site, Seeking Alpha, that bashed the company. The Seattle P-I’s Joseph Tartakoff has an interesting story about the murky identity of who wrote the article, and some apparent inaccuracies it contained.
Microvision’s shares gained ground on Tuesday, and have recovered some more today, climbing 1.3 percent to $3.17 at 11:40 a.m. Eastern time. That’s still down 4 percent from when it opened trading on Monday, so if the author of the article truly was betting shares would fall, then he or she is still coming out ahead.