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<a href="https://markets.businessinsider.com/stocks/vuzi-stock"></a><ul class="summary-list"><li><keyword id="11000704" type="UNKNOWN" weightage="60" keywordseo="vuzix-stock">Vuzix stock</keyword> sank as much as 22% on Friday.</li><li>The fall came after the company priced a 4.15 million share <keyword id="402902" type="PERSON" weightage="60" keywordseo="stock-offering">stock offering</keyword> at $20.50.</li><li>The offering price was well below Thursday's closing price of $26.32 per share.</li></ul><ul class="summary-list"></ul><p><a href="https://markets.businessinsider.com/stocks/vuzi-stock">Vuzix</a> stock sank as much as 22% on Friday after the company priced a 4.15 million share stock offering at $20.5 per share, well below the $26.32 closing price from Thursday.</p><p>Underwriters in the deal were granted a 30-day option to purchase up to an additional 621,951 shares. <keyword id="1614471" type="PERSON" weightage="60" keywordseo="vuzix">Vuzix</keyword> is expected to raise roughly $85 million from the offering.</p><p>Net proceeds will be used for general corporate purposes including working capital, new technology and product development, purchases of technology, expansion of the company's software offerings, and potential acquisitions.</p><p>Vuzix creates virtual and augmented reality (VR and AR) technologies for both the consumer and enterprise <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword>. The firm works with over 40 Fortune 100 companies offering VR and AR solutions for manufacturing, healthcare, logistics, and field service operations.</p><p>Vuzix reported strong earnings on March 15 in what Paul Travers, the President and CEO, called a "transformational year for both Vuzix and the AR smart glasses industry." The company beat both top and bottom line analyst estimates and saw revenue rise 116% year-over-year in 2020.</p><p>However, Maxim Group analyst Jack Vander Aarde downgraded <keyword id="11000705" type="UNKNOWN" weightage="60" keywordseo="vuzi">Vuzi</keyword>x from "buy" to "hold" based on valuation concerns after the report. Still, Aarde was mostly positive on VUZI's long-term potential and said he expects "multi-year revenue growth of 100%+."</p><p>Over the past year, shares of Vuzix rose over 2,000% from $1.15 per share. During the rise, Intel, who was once a big supporter and main investor in Vuzix, sold $57.1 million worth of stock at an average of $11.51 per share.</p><p>The company had <a href="https://www.theverge.com/2015/1/5/7493439/intel-buys-stake-in-google-glass-rival-vuzix">invested</a> $25 million in Vuzix in 2015 when its main competition was Google Glass.</p><p>2020 was a year of firsts for the AR market and Vuzix. Vuzix Blade Smart Glasses were used in the <a href="https://markets.businessinsider.com/news/stocks/vuzix-blade-aids-first-augmented-reality-smart-glasses-based-total-knee-replacement-surgery-in-the-u-s-1029910874">first AR total knee replacement surgery</a> conducted in the United States. Vuzix M400 and M4000 glasses are now used by <a href="https://d2iankuf53zudv.cloudfront.net/Content/Upload/PDFs/03_01_2021_Vuzix_Microsoft_Teams_Final.pdf">Microsoft</a>, <a href="https://d2iankuf53zudv.cloudfront.net/Content/Upload/PDFs/03_09_2021_Vuzix_Rio_Tinto_Final.pdf">Rio Tinto</a>, and more.</p><p>Shares of Vuzix traded down 21.52% as of 11:20 a.m ET on Friday.</p><div type="image" title="Vuzi chart 3" height="652" width="825" msid="81711611" hostid="261"></div>

Vuzix sinks 22% after pricing $85 million stock offering at a steep discount to previous close

<ul><li><strong>The Direxion Moonshot Innovators ETF (MOON) has returned 39% year-to-date, beating <keyword id="10473418" type="UNKNOWN" weightage="60" keywordseo="cathie-wood">Cathie Wood</keyword>'s flagship fund, the <keyword id="10868787" type="UNKNOWN" weightage="60" keywordseo="ark-innovation-etf">Ark Innovation ETF</keyword> (<keyword id="10433060" type="UNKNOWN" weightage="60" keywordseo="arkk">ARKK</keyword>), by roughly 10-fold.</strong></li><li><strong>ARKK has gained 3.5% over the same period.</strong></li><li><strong>The Direxion fund is much smaller than Ark, and is more heavily concentrated in biotechnology stocks.</strong></li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell&amp;hash=8122c716833601fc1471f79af063b104?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestest?utm_source=markets&amp;utm_medium=ingest"><strong>Sign up here for our daily newsletter, 10 Things Before the Opening Bell</strong></a><strong style="color: #222222;">.</strong></li></ul><p>A small ETF that aims to give investors exposure to the most innovative companies in the US has outperformed the <a href="https://markets.businessinsider.com/etfs/ark-innovation-etf-us00214q1040" target="_blank" rel="noopener">flagship fund of Cathie Wood's Ark Invest</a> by 10-fold this year.</p><p>The Direxion Moonshot Innovators ETF (MOON) tracks 50 US companies that pursue innovative technologies, similar to the stated goal of the Ark <keyword id="10940527" type="UNKNOWN" weightage="60" keywordseo="innovation-etf">Innovation ETF</keyword> (ARKK). But MOON has gained roughly 39% in 2021, far outpacing ARKK's 3.5% rise. <a href="https://www.bloomberg.com/news/articles/2021-03-16/arkk-copycat-is-beating-cathie-wood-s-original-by-10-fold" target="_blank" rel="noopener">Bloomberg first reported</a> on the fund's outperformance.</p><p>After a stellar 2020, this year has been shaky for Wood's ETF as investors take profits from highly valued technology stocks and bet on cyclical names against the backdrop of rising yields and an economic reopening. </p><p>Yet Direxion's technology stocks have fared well so far. Moon's top stock holding by percentage is Vuzix, a $1 billion market-cap company that supplies wearable display technology and virtual reality devices. That stock has returned nearly 140% year-to-date. Meanwhile ARKK's top holding, Tesla, has remained relatively flat in 2021. </p><p>According to the Direxion website, the ETF's top sub themes consist of genetic engineering (19.44%), cyber security (16.79%), and clean technology (9.74%). </p><p>As of Dec 31, 2020, the ARKK's largest themes were e-commerce (12%), digital media (9.7%), and cloud computing (9.4%).</p><p>The Direxion ETF tracks the S&amp;P Kensho Moonshots Index, an index of 50 US companies that pursue innovative technologies that have the potential to disrupt existing industries and have the highest "early-stage composite innovation scores."</p><p>That innovation score is determined by "a natural language processing review," of each company's latest regulatory filing for the use of "words and phrases that are related to innovation," according to the Direxion website.</p><p>The fund has gained 70% since its inception in November 2020, but has under $200 million in assets under management, compared to Ark's $24 billion.</p>

A small innovation ETF inspired by Cathie Wood is returning 10 times Ark Invest's flagship fund this year

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>David Ryder/Getty</span></p><p class="caption">The success of Amazon's Echo smart speakers and Alexa voice assistant have given company CEO Jeff Bezos a lot to smile about.</p></div><p></p></div></div></p><ul><li><strong>This year's CES was full of products powered by Amazon's Alexa voice assistant.</strong></li><li><strong>Apple, which usually influences the rest of the tech industry, has fallen far behind in the voice-based computing, and there's no sign it can catch up with Amazon or Google.</strong></li><li><strong>Apple's HomePod speaker won't stand a chance against Amazon's rival Echo line or the other Alexa-powered devices </strong><strong>when it belatedly launches later this year.</strong></li></ul><p><br />One of the favorite go-to talking points among Apple fans every year is how the company always seems to "win" the annual Consumer Electronics Show in Las Vegas without ever showing up. </p><p>For years, the event seemed to be merely a venue for the rest of the industry to show how it was catching up to what Apple had just done or trying to keep pace with what it was expected to soon do. The most famous example was in 2007, when Apple announced the original iPhone in the middle of that year's show, sucking out all the excitement out of Vegas. But Apple showed over and over again that it could set the agenda for the biggest consumer electronics conference in the world from afar.</p><p>Those days may be over. At this year's CES, Amazon displaced Apple as the most influential company at the show with the smallest presence there.</p><p>More importantly, this past week's event made clear that Amazon is dominating one of the most important trends in tech - voice-based computing. Not only has Apple fallen behind in that area, it's too late for the iPhone maker to catch up.</p><h2>Alexa everywhere</h2><p>At this year's CES, companies announced a slew of devices powered by Alexa, Amazon's voice assistant. There were Alexa-powered smart glasses, Alexa controls in Toyota cars, smart home gadgets that respond to Alexa commands, new Windows PCs with Alexa preinstalled, and so much more. It was nearly impossible to walk through the show floor for more than a few minutes without stumbling onto yet another Alexa-powered gizmo.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Vuzix</span></p><p class="caption">Vuzix's Blade smart sunglasses were among the Alexa-powered products on display at CES this year.</p></div><p></p></div></div>All those gadgets and announcements demonstrated how big a role voice is going to play in how we interact with technology - and just how dominant Alexa's position is. By contrast, Siri, Apple's Alexa rival, wasn't even in the conversation.</p><p>Alexa's dominance has taken years to build. Amazon's Echo smart speakers, which pioneered a new tech product and introduced Alexa to the world, gave the smart assistant a foothold inside consumers' living rooms. More recently, Amazon introduced cheaper Echo models, most notably the $50 Dot, that helped bring Alexa to the masses and allowed many to put it in multiple rooms. </p><p>The combination of a pioneering product and inexpensive prices has allowed Amazon to sell millions of smart speakers and <a href="http://www.businessinsider.com/google-cuts-into-amazon-smart-speaker-market-2017-12">capture two-thirds of the market</a>, even amid growing competition from Google.</p><p>Amazon's massive market share has attracted increasing numbers of developers. Thanks to the growing number of skills, or apps, they've produced for Alexa, Amazon's assistant is constantly getting better and learning to do more things. That in turn has made Alexa attractive to device manufacturers looking to add a voice assistant to their devices, something Amazon is more than happy to help them do.</p><h2>Apple's HomePod will have none of the Echo's advantages</h2><p>When Apple's HomePod, powered by its Siri voice assistant, hits the market later this year, it will have none of those advantages. Apple has only opened up Siri to developers in a very limited way and it's not available for use on non-Apple devices at all. And not only will HomePod hit store shelves years after the first Echo, it will sell for a steep $349. At that price, you could buy eight Echo Dots!</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Getty/Justin Sullivan</span></p><p class="caption">Apple's HomePod got lots of press attention when the iPhone maker unveiled it last year, but it doesn't stand a chance against Amazon's rival Echo line.</p></div><p></p></div></div>Yes, it's true that Apple puts a premium price on everything. And yes, the HomePod's high price is linked to the <a href="http://www.businessinsider.com/how-apple-homepod-compares-to-sonos-and-amazon-echo-2017-6">really great sound</a> it offers. If you only want to listen to Apple Music or control the limited number of smart-home products that work with Apple's HomeKit technology, then the HomePod will be fine. </p><p>But because of its price, you're not going to put a HomePod in every room of your house like you could with Echo Dot. Even then, I think it will have limited appeal, because you just won't be able to do as much with it as you can with an Echo smart speaker. For example, you won't get a HomePod to play songs from Spotify or Pandora just by issuing a voice command, because Apple hasn't opened Siri up to those services. </p><p>Indeed, you shouldn't expect a slew of apps for the HomePod. I don't see how Apple's going to attract developers if it doesn't give them more leeway to tap into Siri, and if the company doesn't broaden the range of devices that can use its intelligent assistant.</p><p>Apple's strategy of keeping its technology relatively closed - its software generally only runs on its own devices and the company exercises a good deal of control over how developers' apps can work on its gadgets - worked fine for the iPhone and the Mac. But in order to be successful, voice-based computing systems need to be ubiquitous and in order to do that, they need to be open. </p><p>Alexa is poised to dominate voice-based computing in large part because of Amazon's willingness to partner with a wide variety of gadget and software companies. That's never been more apparent than in the numerous Alexa-powered gadgets on display at CES. </p><h2>Apple missed a big opportunity</h2><p>That Apple has fallen so far behind Amazon in voice-based computing is ironic, because the iPhone maker itself helped pioneer and popularize the technology with Siri. Apple has been shipping Siri on devices since the iPhone 4S, which launched in 2011. The technology is now on hundreds of millions devices, and comes preinstalled on every iPhone, iPad, Apple Watch, Apple TV, and Mac the company sells.</p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Oli Scarff/Getty</span></p><p class="caption">Apple helped pioneer and popularize voice-based computing with Siri, which it rolled out with the iPhone 4S in 2011.</p></div><p></p></div></div>Thanks to that, Apple had all the pieces in place to turn Siri into the dominant voice-based computing technology. But the company was slow to develop Siri and failed to realize the voice assistant's true potential. While Siri runs on lots of Apple devices, those gadgets weren't designed around voice-based interactions. Siri is just an alternate way of interacting with them, not their primary interface.</p><p>By contrast, by focusing on voice interactions and making voice central to its devices, Amazon has turned Alexa into a really powerful and compelling technology.</p><h2>Apple won't just be late, it's missed the boat entirely</h2><p>Apple fans like to point out that the company has a history of entering nascent markets late but succeeding anyway by developing products that far exceed their rivals and set consumer expectations. The iPod, the iPhone, the iPad, and the Apple Watch are among the most notable examples.</p><p>But it's too late in the game for Apple to reprise this history with the HomePod. Amazon's too far ahead and the HomePod and Siri are going to be too limited for Apple to knock Jeff Bezos' company off its perch.</p><p>I'm not the only one who sees this. When I asked one executive in the smart home space at CES if he thought Apple had a chance to bounce back and compete with Amazon and Google in voice computing, he chuckled dismissively.</p><p>To be sure, just because Apple's whiffed on voice computing doesn't mean it's doomed. It's not in danger of losing its lead in consumer tech. Actually, its iPhone business is still humming along nicely, and the company will likely report its best quarter ever later this month.</p><p>But thanks to Amazon's focus on Alexa and its own missteps with Siri, Apple's going to miss out on one of tech's biggest new trends. As CES showed, when it comes to voice-based computing, it's Amazon, not Apple, that's setting the standard.</p><p class="tagline">Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/best-iphone-apps-list-review-hq-trivia-ikea-monument-valley-2017-2017-12">Here are the best iPhone apps of 2017</a></h3>        <div>                    </div>    </div>

Sorry, Siri, Alexa's got you beat - Here's why Apple's going to lose the voice computing war to Amazon

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Jeffrey Dastin/Reuters</span></p></div><p></p></div></div></p><ul><li><strong>Amazon Alexa and Google Assistant are battling for supremacy in voice search. </strong></li><li><strong>At the CES trade show, which begins in Las Vegas this week, gadget manufacturers will show off their latest products using Alexa and Assistant.</strong></li><li><strong>Amazon has aggressively pushed Alexa everywhere, gaining dominance. Now, it's slowly but slyly turning Alexa into a big driver towards its core retail business. </strong></li><li><strong>Google has aggressively chased after Amazon, pushing the Google Assistant into new places. But it's less clear how Assistant will help Google's core search <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> business.</strong></li></ul><p><br />At next week's Consumer Electronics Show, we're going to see the battle between Amazon Alexa and Google Assistant kick in to high gear. </p><p>Last year, Alexa was the clear winner of CES, with companies like Ford, Huawei, and LG agreeing to integrate their products with Amazon's virtual assistant. Since then, Alexa has only gotten bigger - Amazon says that it sold "<a href="https://www.geekwire.com/2017/amazon-sold-tens-millions-alexa-devices-worldwide-record-holiday-season/">tens of millions</a>" of Alexa-enabled products, led by its own Amazon Echo Dot, over the holiday season. </p><p>This year, Google is striking back. While the search giant's Google Home speakers still lag the Amazon Echo in terms of market share, it's picking up momentum: Google claims that it sold over 6.7 million <a href="http://www.businessinsider.com/google-sold-nearly-7-million-home-devices-during-the-holidays-2018-1">Home and Home Mini</a> speakers over the holiday shopping season. </p><p>You can expect both companies to make announcements about new partners, new products, and new ways to use their respective voice agents. LG has already announced that it will be <a href="https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/kevinmurnane/2018/01/03/googles-assistant-has-found-a-new-home-in-lgs-oled-and-super-uhd-tvs/&amp;refURL=https://www.google.com/&amp;referrer=https://www.google.com/">showing off new TVs with Google Assistant built in</a>; a company called Vuzix will be <a href="https://www.bloomberg.com/news/articles/2018-01-05/first-amazon-alexa-enabled-digital-glasses-to-be-shown-at-ces">debuting a pair of Alexa-powered smart glasses</a>. </p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>BI Intelligence</span></p></div><p></p></div></div></p><p>Make no mistake, though. All of this, and all of these announcements, are a proxy war between Amazon and Google. The battleground, this time, is the growing market for smart speakers. But what's at stake is each of these tech titans' relative positions as we enter a new wave of computing. </p><p>Here's the current scorecard between Amazon and Google - and what to watch for this week as each company makes its moves and counter-moves. </p><h2>Amazon is still dominating</h2><p>Amazon got in on the smart speaker market early, and has moved quickly to ensure its stays out in front. Now, by most measures, the <a href="http://www.businessinsider.com/amazon-building-smart-speaker-lead-after-echo-sales-holidays-2017-12">Amazon Echo is dominating the smart speaker market</a>. </p><p>The company has built on the lead with an avalanche <a href="http://www.businessinsider.com/why-the-new-amazon-echo-speakers-are-so-important-2017-9">of new hardware</a> released in the last year: The tablet-like Echo Show, which has a screen; the Echo Look fashion camera; the Echo Plus home hub; the Echo Spot alarm clock; the redesigned Echo.</p><p>Plus, partners like <a href="http://www.businessinsider.com/review-sonos-one-with-amazons-alexa-smart-assistant-2017-10">Sonos </a>and <a href="http://www.businessinsider.com/smart-thermostat-manufacturer-ecobee-brings-alexa-to-its-devices-2017-5">Ecobee </a>have released their own products with Alexa built in, so you can talk to (and shop from) Amazon from an ever-increasing number of places. And with <a href="http://www.businessinsider.com/how-amazon-alexa-will-create-an-app-store-boom-2018-1">30,000 skills, or apps</a>, now available for Alexa, customers can do a lot more with those devices - giving them fewer reasons to switch. </p><p>This is all a part of Amazon's ongoing playbook to get Alexa everywhere. Now, with its market share established and its position looking to be firmly entrenched, Amazon is entering a new phase in its master plan.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Matt Weinberger/Business Insider</span></p><p class="caption">The complete lineup of Amazon Echo gadgetry.</p></div><p></p></div></div></p><p>Amazon has begun experimenting with ads in Alexa, <a href="https://www.cnbc.com/2018/01/02/amazon-alexa-is-opening-up-to-more-sponsored-product-ads.html">CNBC recently reported</a>, bolstering its <a href="http://www.businessinsider.com/amazon-advertising-business-is-crushing-the-competition-2017-11">fast-growing online advertising business</a>. As a nice bonus, these ads would use a shopper's data to suggest products, which could help turn Echo users into Amazon shoppers, too. </p><p>Beyond just that, Amazon has started to play around with premium skills. With Alexa games like "<a href="http://www.businessinsider.com/jeopardy-on-amazon-echo-gets-more-clues-2017-10">Jeopardy</a>," you can pay $1.99 a month for extra questions, or else get them for free if you're an Amazon Prime subscriber. If you pay up, Amazon takes a cut, or else it's just another reason to subscribe to Amazon Prime. Either way, Amazon wins.</p><p>So keep an eye out for two things from Amazon: New ways to get you using Alexa, but also new ways for Amazon to slowly but surely turn Alexa into something that makes a material impact on the company's bottom line. </p><h2>Google is gaining ground fast, but there's a problem</h2><p>Google was relatively late to the smart speaker game, but it's gaining ground quickly.</p><p>The Google Home speaker has been available since 2016. But in the last few months of 2017, Google launched the smaller <a href="http://www.businessinsider.com/google-home-mini-versus-amazon-echo-dot-2017-10">$49 Google Home Mini</a> and the <a href="http://www.businessinsider.com/google-home-max-smart-speaker-hands-on-photos-2017-10">$399 super-premium Google Home Max</a>. And, like Amazon, Google has been signing deals with vendors like Sonos to get Assistant into their devices. </p><p>It's especially worth noting how aggressive Google has gotten about extending its market share. Over the holiday shopping season, Google lowered the price of the Home Mini speaker to $29. Better yet, if you bought it at Walmart, it came with a $25 credit towards Walmart orders on the Google Shopping Express service.</p><p>Otherwise, Google's playbook looks a lot like Amazon's. The imperative is for Google to get Assistant on more devices. Google does have one edge, too, in the form of Android, which makes Google Assistant the default voice agent in the most recent version of the OS.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Matt Weinberger/Business Insider</span></p><p class="caption">The Google Home Mini is a palm-sized voice computer.</p></div><p></p></div></div></p><p>The problem for Google is that it still doesn't have a great answer for how Assistant will play into its core search business.</p><p>Google has signed deals with vendors like Walmart and Target to bolster its Shopping Express service, which lets you shop with your voice. Unlike Amazon, though, Google isn't a shopping company at heart. And a partnership with Disney to promote "Beauty and the Beast" with sponsored content for Google Home ended in a user backlash.</p><p>There have been more successful forays into sponsored content on Google Home since, notably interactive Mickey Mouse and "Star Wars" games that you can play with your voice. That answers at least some of the questions around how Google will monetize the Home speaker and the Assistant.</p><p>Still, the challenge remains for how Google Home really figures into the search advertising business that's propelled Google to its current heights. And as Alexa continues its aggressive growth, and a rising threat from Apple and its HomePod on the horizon, this war is all but won.</p><p class="tagline">Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/life-hack-amazon-echo-dot-car-infotainment-system-2017-7">Turns out the Amazon Echo Dot makes an amazing car infotainment system</a></h3>        <div>                    </div>    </div>

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Vuzix sinks 22% after pricing $85 million stock offering at a steep discount to previous close

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