After the Reddit-fueled rally last month, MicroVision (MVIS) has given back much of its gains. So is now the time to buy this lidar stock or is Velodyne (VLDR) a better investment?.Last month MicroVision (MVIS) became a much talked about company on the Reddit WallStreetBets Investing forum. MVIS is a company that develops Lidar technology. Lidar, which stands for “light detection and ranging,” is a technological method used to measure the distance of an object on the earth’s surface. This technology is being used in the development of autonomous vehicles (AV).
This Reddit buzz led to an incredible 163% rally in the stock from April 20th to April 26th. However, since then the stock has plummeted 50% and is currently trading at $13.86.
Another prominent LiDAR stock is Velodyne Lidar (VLDR). In this article, we are going to analyze MVIS and VLDR to determine which stock is a better buy.