My mid-year review of MVIS
(same old, same old - Lots of promise. Lots of promises.)
INTRO Here's my semi-annual exercise to see if I remember why I own the stocks I own, and so I can check back and see if their stories have changed. I post in case it helps others too.
MicroVision
MVIS (market cap is $0.283B was $0.287B)
I've been Holding and watching MVIS for over two decades. Pardon me as a copy&paste yet again since 2022. That seems most efficient. (Some edits added, but nothing signficant because nothing seems to have changed except details.) Another era of MVIS doldrums. Very little new news relative to the previous years/decades.
"Oh, MicroVision; will it be yet again another 6-9 months, or 9-18 months, or longer?" Well, it hasn't been any of the previous hoped-for periods for the last twenty years - though there was that time of flirting with hope..." (circa 2021).
MicroVision is a electronics component manufacturer developing, and to some extent selling, elecro-optical units based on a chip-sized oscillating mirror. It is a simple and ingenious design defended by a long list of patents. Currently the greatest public hope for the company are the LiDAR sensors targeted at the autonomous vehicle market. MicroVision's advantage is based on the chip's scalability, the lack of pixel-sized constraints (as compared to LEDs), lower power requirements, and small package.
Before LiDAR, the company targeted short-throw projectors, projectors embedded in smartphones, augmented reality eyewear (see Hololens and more), as well as game controllers, bar code scanners, and orthoscopes. And probably more. The company has always operated under constraints from NDAs, the need to protect competition sensitive product developments, and some exclusive contracts that were ill-suited for the company, in retrospect.
It is easy to imagine that the company wasn't persistent enough in pursuing some of those products as they were first movers in those fields. Now, competition has caught up. Also, corporate hopes pinned on singular products languished if the product or customer failed to deliver. Each CEO also resteers the company to distinguish their era from the previous one. The effect has been for the company to be seen as a tech test bench play shop that is dependent on demos and customers rather than faith in the company's products to lead to financial success.
I remember when... Once upon a time, profitability was described as a possibility for 2003. (Previous notes had a note also suggesting 2023. Irony?)
As stated above; "Oh, MicroVision; will it be yet again another 6-9 months, or 9-18 months, or longer?"
If it succeeds, its rise may be magnificent, which is one reason to own shares now. My shares are now old enough to have graduated college, worked for a few years, then gone back for a Masters, started a family, had kids, and watch them enter school. How much longer will it take for something positive, significant, and quantifiable to finally happen?
Oddly enough, a cash infusion from another source and the depressed price made it easy and cheap to buy back in, not because I know anything new but because the market is exhibiting irrational exuberance which might include MVIS; and because some day, some day...
DISCLOSURE LTBH since 1999 (though the very first shares are gone). Dilution means that I no longer have more than enough if the company finally succeeds and the stock reaches the heights I think are possible. Oddly enough, a cash infusion from another source and the depressed price made it easy and cheap to buy back in, not because I know anything new but because the market is exhibiting irrational exuberance which might include MVIS; and because some day, some day...
(I've also collected links to the other discussion boards and my other stocks over on my blog trimbathcreative.net
For even more details, follow my blog's tags for MicroVision and MVIS, which reach back a decade.
trimbathcreative.net
trimbathcreative.net
& from my One Company One Story series on YouTube
youtu.be )
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