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MVIS, BEVs, AI, and a dangerous market -3
MicroVision recently attempted a $75M private placement, only to abandon it, and follow up immediately with a $45M ATM facility. MVIS has been a roller coaster since its latest earnings report in early May, which featured a forecast for yet another huge jump in revenue to levels which still wouldn't be profitable. Analysts bit on that, but they were either ignorant, or happy to profit from volatility at the expense of those who believed them.
My service has shown the ability to profit from such short term moves, but it offers only long-side analysis for reasons which I am happy to explain to anyone that cares to ask. I think history validates my decision to drop coverage on the stock, per this sentence from the MVIS section summary:
early warnings had me playing hands off a few years later, and experience made me want nothing to do with later management.Since those link dates, MVIS went from bounding around $3 to to low of 15 cents before being rescued by the pandemic-inspired swarm trading craze. This note is being published primarily to serve as a background example for the macro analysis on the private side of this website, but I hope it also serves as a warning to those who think that this time is different for MicroVision: in my opinion as a programmer and investor, the company has no competitive expertise or capabilities in artificial intelligence, and has demonstrated complete inability to bring cost effective solutions to the growing battery electric vehicle market, which I've been accurately predicting for years now, in part through hands on experience.