NEW YORK (TheStreet) -- MicroVision (MVIS) is rocketing 16.7% to $2.33 in early trading Monday on the heels of the news that it has reached a deal with shipment company UPS (UPS) to provide the company with customized display modules.
UPS hopes the micro display technology will help the shipping company improve processing efficiency. The PicoP model that MicroVision is supplying has projections with the ability to operate in industrial environments due to its brightness, infinite focus, and variable field of view technology. Due to the varying sizes of the packages the display will be projected on, UPS hopes these technological breakthroughs will help with efficiency.
"We are very pleased to be supplying custom PicoP display modules to UPS for its package routing application," Alexander Tokman, MicroVision president and CEO, said. "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. We are confident that MicroVision's PicoP display technology will aid in accuracy and increased efficiency."
TheStreet Ratings team rates MICROVISION INC as a Sell with a ratings score of E+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICROVISION INC (MVIS) a SELL. This is based on a variety of negative investment measures, which should drive this stock to significantly underperform the majority of stocks that we rate. The area that we feel has been the company's primary weakness has been its unimpressive growth in net income."