Why MicroVision Stock Is Moving Lower After Hours – Microvision (NASDAQ:MVIS)

MicroVision Inc MVIS shares are trading lower in Tuesday’s after-hours session after the company filed for a mixed shelf offering.

What Happened: According to a new regulatory filing, MicroVision said it may sell a mix of common stock, preferred stock and warrants from time to time in one or more transactions. The size of the offering was not disclosed.

Microvision shares are up more than 120% over the last month. The stock traded up 3.75% during Tuesday’s regular trading session on high volume of 7.862 million versus its 100-day average of 4.427 million, per Benzinga Pro. The stock traded as high as $8 per share this month before pulling back.

MicroVision has high short interest, which could be a contributing factor to its outsized move in recent weeks. 27.07% of the float is currently sold short, per Benzinga Pro.

From Last Week: MicroVision Continues To Spike Higher: Why A Retracement Is On The Horizon

MVIS Price Action: MicroVision shares were down 12.4% after hours at $5.65 at the time of publication.

Photo: courtesy of MicroVision.