MicroVision soars 47%, leading 'meme stocks' higher
(Reuters) - Shares in laser developer MicroVision Inc rose 47% on Monday and other Reddit favorites rose, suggesting interest in so-called meme stocks remains strong after a wild ride this year. MicroVision, which develops laser scanning technology for automotive lidar sensors and augmented reality, was the most mentioned stock on Reddit's popular WallStreetBets forum on Monday, according to SwaggyStocks, the mood tracker. Other so-called meme stocks, centered on WallStreetBets and other online forums populated by retailers, were also higher on Monday, including GameStop, AMC Entertainment and Koss Corp. "I think it's retail coming back earlier this week," said Rick Meckler, partner at Cherry Lane Investments, a family investment firm in New Vernon, New Jersey. "Meme stocks tend to be more emotional and very dynamic for investors." Meme stocks were in the spotlight earlier this year when a spate of purchases of shares in video game retailer GameStop forced ...