MVIS Stock Price: Over 16% Increase Explanation

By Amit Chowdhry ● June 10, 2021
  • The stock price of Microvision, Inc. (NASDAQ: MVIS) increased by over 16% during intraday trading. This is why it happened.

The stock price of Microvision, Inc. (NASDAQ: MVIS) increased by over 16% during intraday trading. Investors are responding positively to the company announcing that it is set to join the Russell 2000 Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28 according to a preliminary list of additions posted June 4.

The membership in the US all-cap Russell 3000 Index – which remains in place for one year – means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. And FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

KEY QUOTE:

“We are extremely pleased that MicroVision is set to join the Russell 2000 Index. Joining this index is a reflection of the progress we have made this year in developing our technology, building a strong balance sheet and increasing shareholder value.”

— Sumit Sharma, Chief Executive Officer of MicroVision

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.