MicroCloud Hologram Stock Is Moving Higher Tuesday: What's Going On?

MicroCloud Hologram Inc HOLO shares are trending Tuesday as the stock surges to the upside. Traders appear to be highlighting potential strength on the back of multiple company updates last week.

What To Know: MicroCloud Hologram shares are moving higher on above-average volume Tuesday. The stock is trending on various social sites as traders discuss the stock’s recent decline and potential for a move higher on the back of recent updates regarding progress on quantum initiatives.

MicroCloud announced the development of a new quantum supervised learning method last week. The company said the method overcomes the limitations of many current quantum machine learning algorithms.

MicroCloud also highlighted “significant” progress on quantum-enhanced imaging, which it said has demonstrated advantages over traditional imaging in practical technical implementations. The company said it leveraged quantum-enhanced holographic LiDAR based on time-frequency entanglement to achieve a signal-to-noise ratio of 40dB. MicroCloud noted that the technology enables imaging of non-reflective targets in noisy environments.

The surge in shares of MicroCloud appears to be retail-driven with institutional ownership sitting at just 0.32%. Tuesday’s trading volume of more than 14 million shares is well above the company’s 100-day average of 1.1 million, according to Benzinga Pro.

MicroCloud has a low float of 4.73 million shares. 13.52% of the float is currently sold short, according to Benzinga Pro data. The company also had a market cap of just $27 million as of Friday’s close. Low-float micro-cap stocks tend to be very volatile, which is on display Tuesday. Shares traded as high as $7.17 before pulling back.

HOLO Price Action: MicroCloud shares are down about 45% over the past month and are down nearly 97% year-to-date. The stock hit 52-week lows of $5.37 last week before bouncing back. Shares were up 9.8% at $5.89 at the time of publication Tuesday, according to Benzinga Pro.

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