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

MicroCloud Hologram Inc (NASDAQ: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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