One of the more intriguing pick-and-shovel plays in the autonomous driving (AD) sector, MicroVision (NASDAQ:MVIS) has remained a volatile stock in recent years. Indeed, the peaks and valleys shown on a MVIS stock chart are rather incredible, looking more like a roller coaster ride than anything else.
Lately, though, investors in this lidar sensor company have been riding momentum higher in an impressive way. At the time of this writing, MVIS stock is up around 9% from yesterday’s close. However, that’s off of today’s highs, when the stock briefly traded more than 15% higher.
Much of this upside momentum appears to be tied to short squeeze hopes. As InvestorPlace reported yesterday, a shortage of MVIS stock shares available to short (per Fintel’s sample brokerage) has placed a unique dynamic on this stock. Any time the float of a given stock is entirely spoken for, that suggests extremely high short interest. This short interest typically bleeds into higher borrowing costs, which we have seen as well.
InvestorPlace’s Eddie Pan recently highlighted just how costly it is to borrow MVIS stock right now. Thus, selling MVIS stock is becoming an increasingly dangerous trade, especially looking at this stock’s year-to-date (YTD) move of around 220% at the time of this writing.
With such impressive momentum behind this name, let’s look at the big money investors that have participated in the MicroVision rally.
Who’s Betting Big on MVIS Stock?
According to data from Yahoo Finance, these are the top five institutional investors in MicroVision.
- Blackrock (NYSE:BLK) owns 13.27 million shares, or 7.52% of the company.
- Vanguard owns 9.82 million shares, or 5.56% of the company.
- State Street (NYSE:STT) owns 4.95 million shares, or 2.81% of the company.
- Mirae Asset Global owns 3.52 million shares, or 2.00% of the company.
- Geode Capital Management owns 3.23 million shares, or 1.83% of the company.
On the date of publication, Chris MacDonald did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
