MicroVision Shares Surge

MicroVision shares rose 11% on Thursday after the company said it has won a contract worth up to $24 million from an unnamed technology company to develop a laser beam scanning display system and to produce specific MicroVision components.

MVIS was at $2.48 recently, having earlier traded as high as $2.74, just shy of the 52-week high of $2.75. The 52-week low is at $0.89.

The company said that under the agreement, it will develop a new generation of micro-electrical mechanical systems, application-specific integrated circuits and related firmware for a high resolution, laser beam scanning based product the technology company is planning to produce.

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