Why MicroVision (MVIS) Is Up Today

NEW YORK (TheStreet) -- MicroVision  (MVIS) exploded on Monday on the news it will supply its PicoP technology to UPS  (UPS).

By midmorning, shares had added 19.3% to $2.41. Trading volume of 7.4 million was nearly double its three-month daily average.

In a statement, the nano-cap said it would provide the package-delivery company with its projector modules to improve its real-time package-sorting system.

"As the leader in logistics handling high volumes of packages every day, UPS is the ideal company to deploy advanced projection capabilities to improve package handling processes," MicroVision president and CEO Alexander Tokman said in the release. "We are confident that MicroVision's PicoP display technology will aid in accuracy and increased efficiency."

The Redmond, Wash.-based business said it had custom designed the display technology to project information directly onto the packages.

"Because the size of packages coming through the sorting process vary greatly, the infinite focus and variable field of view projection of PicoP display technology make it well-suited for this application. The overall brightness of the laser-based projector module provides easy visibility for the package handlers," the company explained in the statement.

Last month, MicroVision shares surged on news Sony (SNE) would use PicoP technology in its new projector module. Sony's project, a pico projector module, will have HD resolution, incorporating MicroVision's PicoP technology which allows image and video to be projected from mobile devices.

In a statement, Sony said the technology allows "crisp, beautiful high-definition resolution and "focus-free" projection, regardless of the distance or angle from the projection surface."

If you liked this article you might like

Insider Trading Alert - CMFN, HUBS And MVIS Traded By Insiders

MicroVision (MVIS) Stock Is Up Today on Heavy Trading Volume

Microvision (MVIS) Is Strong On High Volume Today

MicroVision (MVIS) Stock Is Up Today After Receiving Component Order

Apple Falls on Possible Watch Impact, Amazon Rises on Store Opening: Tech Winners & Losers