Meme Stock Crash: 5 Worst-Performing Stocks of Reddit’s WallStreetBets

3. MicroVision, Inc. (NASDAQ: MVIS)

Number of hedge fund holders: 12
Monthly Decline: 27%

MicroVision, Inc. (NASDAQ: MVIS) is a Washington-based firm that makes and sells lidar sensors. These are used by firms working in the self-driving and autonomous driving sector. It is ranked third on our list of 10 worst-performing stocks of Reddit’s WallStreetBets. The company’s shares have slumped by 14% since the last week. On June 21, the firm announced that it had entered into an agreement with Craig Hallum Capital for a $140 million at-the-market equity offering. The company has a market cap of over $2 billion. 

In earnings results for the first quarter of 2021, posted on April 29, MicroVision, Inc. (NASDAQ: MVIS) reported earnings per share of -$0.04, missing market estimates by $0.01. The revenue over the period was $0.5 million, down 66% year-on-year. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in MicroVision, Inc. (NASDAQ: MVIS) with 1.2 million shares worth more than $32 million.