What class action?

Maybe this dip to a dollar is your quick flip of the week

Sumit discovered a projection based on OEMs "current" assurances was a very bad idea.

The only real hard news out of this was seven remaining open RFQs, all passenger vehicles, with decisions he believes will be made in 2Q and 3Q...but he's not going to commit and get pilloried again. They also can't take small, opportunist job lots that will hamstring the company for larger contracts. It's an ugly look, but the OEMs are in danger of cutting off their own noses on this, and I'm sure they realize that.

87% chance there will be one

seven remaining?  How many were closed?

2 I believe. I just grabbed 50k more shares.

one closed that was a trucking company and one other moved their decision out past 2024

Man, you are still optimistic on this company?

What the hell drop in after hours?  Don’t know if I should cry our be glad for an opportunity to average down.

Trucking company for sure, I didn't get the reason for the second.

Hard down tomorrow morning for sure, but Sumit explaining very clearly that the OEMs are asking the Lidar companies to pay all the development and integration costs for contract units that won't produce a profit is going to sink in. It's unsustainable. Luminar just laid off 20% of their workforce for a reason, and said more layoffs are coming...and that's with whatever crumbs Austin paid Tesla to throw them.

"Decisions expected in the second and third quarter". We're in the second quarter now, but I doubt many people made the connection. I may pick up 10K in the morning, depending on how fall the price falls.

So far

Attached File

.  Same

Well that was fun. Compared to others I haven't lost as much value but 4k in one day and 26k since my first buy hurts. A definite no vote from me  for any exec comp or additional hiring /board members.

OUST did a 1-10 reverse split in April 2023. It was at $0.38 at the time. Same story with almost all the SPACs, they've been absolutely savaged over the last year.

I'm not in the mood to use the word optimistic right now, but I know where all the competition stands right now...big, awkward products with mechanical components, huge cash burn, tiny "contracts" paid for out of company funds. Most of them were valued in the $20 to $30 range when they went public and are all in the shame general range. The ones that look like they're doing alright now have  done reverse splits to keep from going under.

This fight is far from over, and for better or worse I'm going to ride until my investment thesis changes.

Dude seems like the milqtoast of milqtoast

bought another 500 @ $0.96

and I've got 30 put contracts at $1.50 that I want to see what they open up at tomorrow morning

Balls of steel right there

So you quite literally are going to buy high and sell low(est point in years)?  Nahfuckallthat.gif

Just the cusp,  bro.  

Anybody else feel like throwing up?

I am not selling. Ride or die on this.

Typo?

Probably just dumb.

However, my thought process is that the 102k shares I had at the start of the call, well, those are in deep shit no matter what so we shall put that problem to the side. Either it's going to be a tax deduction or I am riding it out. One way or the other, basically not much I can really do at this point with that loss.

This last 50k are separate in my mind and were bought at under a dollar per and are roughly 10% up as I type this. Obviously subject to change one way or another. You guys have a lot more experience than I do and I can very well be wrong, but as we all seen, there was a lot of dumping fast tonight and there will likely be some more but there may be a lot of buying as well. Perhaps a lot of guys wanting to reducing their per share price as well as some day traders sniffing about an opportunity. We shall see.

9 RFQs, Q4 announcement!  9 RFQs, Q1 announcement!  7 RFQs, Q2/Q3 announcement! But no real revenue until 2027 2028 2029! Two Three Four year lead time by OEMs! PATIENCE!1!!one!1!

Maybe they should close what's left of the existing ATM and open another, even higher ATM. Except the Craig-Hallum interns, whose sole job is to hit "sell" 100 shares at a time, might revolt on that idea...

After the open tomorrow, what happens next: $1.50/share or $0.50/share?

Just so you know I havent started my weed-eater this year. I also sold out at $2.50

The trucking company referenced in this?  If so details from them would be nice, "primarily driven" suggests a win?

Nah, I'd call that "poetic license"

My meme coins are now worth more

W
Same. I would rather be buried with the shares in my back pocket than give up and call it a loss. I don't care if I have to wait 10 years. I will eat them for lunch before I surrender.

Tomorrow could be an interesting day.

80% of my shares have $3 covered calls sold against them expiring next Friday. Saw they were at $0.02 today and thought about rolling them out. Unfortunately I decided to hold out for a few more bucks.

I can remain stubborn longer than the market can be irrational.

I find this interesting:

Anubhav Verma

Thanks, Sumit. The next question is, last year at the Retail Investor Day, MicroVision reiterated that the company is very far ahead of the competition and it would take years for them to catch up. Does this statement still hold true? And if it does, the OEMs are still keeping their bar standard high, or are they lowering it to accommodate more choice in suppliers?

Sumit Sharma

Yeah. It is 100% true, and I'll give you an example. These seven RFQs we're talking about that MAVIN is part of, we have to dumb down MAVIN to be in the middle of it. I mean, it's -- there's things that we have to do, but we can certainly do it, right? I mean, there's nothing new development. It's just new calibration, new firmware, new development for us as part of our ASIC, so it's not that big of a deal. But as you can imagine, right, as I always said, right, it is best-in-class, so far ahead. When you get into these RFQs, nothing has been thrown at us that requires us to meet it. If anything else, we've been brought towards the mean.

I thought this was fascinating. Sumit went on to talk about the widely divergent demands from multiple OEMs. I strongly believe he wasn't talking to the stockholders, he was talking directly to the OEMs and giving them very general information about their competitors to drive home some of the sticking points in the contract negotiations.

"Some OEMs want to see our manufacturing strategy proposals to commit to factories in Asia and North America for volumes that would not justify two factory locations. Some OEMs explicitly want a factory in the U.S. To be clear, they will not accept a NAFTA country, but only a U.S. contract manufacturing factory while expecting cost structures that are only possible from Asia. Others will only review proposals from Asia, while a small group wants to see a diversified operation strategy with multiple continents. Again, the expectation is that we will fund this with our investors."

The bolded portion smacks of talk in the US Congress about concerns over Chinese Lidar patent infringement and technology theft...

The second bolded portion is the full stop. They can't float another, even larger offering to fund production. I'm actually happy they've draw this line in the sand.

There is a lot of interesting insight as to current state of affairs in those comments.

I was ready for a large buy but the price got away from me.  I'll take it.

Added 1500 more. Last purchase. Here’s to hopium.

Damn, that looks like a brilliant trade right now.

We had guests enroute to the house, and I'm irritated I didn't follow suit for a smaller piece.

Hoping for a 1000 hours pullback.  Just missed my buy order price.

I was late to the party (earnings call) yesterday, as life got in the way, but did I hear it correctly that the automakers are forcing the lidar firms (not just microvision) to eat the NRE's?
My guess is they got tired of being burned by over-hyped SPAC's and startups eating away their budgets and not having delivered something that is workable or cost effective to manufacture.
Will this have the distinct possibility of forcing still further consolidation in the industry?

Anyway, still in for the long(er) haul.

I'm there as well. Didn't expect the price to recover this quickly from yesterday's panic. AH volume was over 3M shares, btw.

Had my brother make a swing trade for me yesterday afternoon since schwab won't let me deposit and buy MVIS right away.
Bought 1000 at $0.99, and I Just had him sell it for $1.305.  Easy case of 9mm on that one.

the problem is if another company is willing to fund those productions then MVIS isn't going to win the contract. No contract wins = no company in year or so

You can't make money if you keep telling your potential clients no

Just put your buy where you would have put your stop; zero.

Does buying at zero equal not buying at all, or buying 100% of the float?  Sounds like a plan.

Any other time I would have bought in pre-market at a low, and the price would have plunged at the open.  Not this time, I said.  I'm no dummy.

Well, they're trying, but Sumit said very clearly we won't be doing it. It's a very complex situation. Here's the longer quote, I just excerpted the factory location part earlier.

    All OEMs want varying levels of perception features, some running within the LiDAR, some running in their ECU, some claiming they need no perception, but want our source code. Some OEMs want the LiDAR in roofline, others want them integrated in headlamp and some others are only looking at behind windshield integration. They want our core LiDAR to be flexible enough to fit into all their locations. They are aware of the trade-offs in each location, but will require updates to the core hardware.
   All OEMs want varying levels of perception features, some running within the LiDAR, some running in their ECU, some claiming they need no perception, but want our source code. Some OEMs want the LiDAR in roofline, others want them integrated in headlamp and some others are only looking at behind windshield integration. They want our core LiDAR to be flexible enough to fit into all their locations. They are aware of the trade-offs in each location, but will require updates to the core hardware.
   Some OEMs only want to work with us as a LiDAR Tier-1 with contract manufacturing agreements in place, others prefer a traditional Tier-1 with a diversified product portfolio and profitability with us in a partnership with them, and a smaller group wants to see our Tier-2 strategy even if the volumes do not justify any licensing model. OEMs do work very closely with us and are willing to compromise their needs, but in general, there's a wide area we need to navigate on each RFQ.
   Some OEMs only want to work with us as a LiDAR Tier-1 with contract manufacturing agreements in place, others prefer a traditional Tier-1 with a diversified product portfolio and profitability with us in a partnership with them, and a smaller group wants to see our Tier-2 strategy even if the volumes do not justify any licensing model. OEMs do work very closely with us and are willing to compromise their needs, but in general, there's a wide area we need to navigate on each RFQ."

Lot of panic selling yesterday AH, from a brief look at r/mvis some of those guys should be on suicide watch.

Did any OEM anywhere mention mvis by name in connection with revenue?

Who else has the cash to do so?