Why Microvision Stock Skyrocketed Today

Shares of Microvision (NASDAQ: MVIS) were soaring today after the company released its second-quarter results late yesterday. The company reported quarterly revenue of $0.75 million, an increase of 27% from the year-ago quarter and slightly higher than Wall Street's consensus revenue estimate of $0.7 million. "With a large market and significant growth ahead of us, we see great opportunity for further value creation with our focus on strategic sales," Microvision CEO Sumit Sharma said on the company's investor call.