Benzinga | Aug 27, 2021 03:10PM EDT

Why Microvision Shares Are Rising

Shares of several companies in the broader technology sector, including Microvision, Inc. (NASDAQ:MVIS), are trading higher in sympathy with the overall market following Fed Chairman Powell's Jackson Hole speech.

Microvision is trading higher by 184.83% on a year-to-date basis amid heightened retail investor interest.

Microvision is engaged in developing a lidar sensor to be used in automotive safety and autonomous driving applications. Its lidar sensor uses laser beam scanning (LBS) technology which is based on systems that include micro-electrical mechanical systems (MEMS), laser diodes, opto-mechanics, electronics, algorithms and software.

Microvision is trading higher by 4.5% at $14.86. Microvision has a 52-week high of $28 and a 52-week low of $1.36.