Microvision Shares Fell 20% Today (MVIS)

Microvision, Inc. (NASDAQ:MVIS) shareholders are feeling the pain with today's 20% drop in share price thanks to the company offering to sell 6.7 million shares of stock at $3 each in an effort to raise about $21.5 million.

The Redmond company (NASDAQ: MVIS) said it plans to use the money “for general corporate purposes, including, but not limited to, working capital and capital expenditures.”

Last month, the company, which makes commercial handheld laser projectors, and helmet-mounted cameras for soldiers, reported a third-quarter loss of $11.5 million, or a loss of 15 cents per share.

Since mid October, Microvision shares have fallen from $5.50 a share to the $3 level.  Today MVIS shares fell 84 cents and finished the day at $3.27.