What's Going On With MicroAlgo Shares Wednesday?
Portfolio Pulse from Nabaparna Bhattacharya
MicroAlgo, Inc. (NASDAQ:MLGO) announced its new quantum shield distributed ledger technology (QSDLT) aimed at securing Bitcoin and other cryptocurrencies against quantum computer threats. The QSDLT uses advanced cryptographic algorithms to protect transactions and user identities, and it also reduces the cost of Bitcoin transactions. Despite this announcement, MLGO shares dropped 28.3% to $0.81. Additionally, MicroAlgo recently unveiled a Bitcoin trading prediction algorithm that employs machine learning and technical indicators.
December 27, 2023 | 5:38 pm
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MicroAlgo announced its quantum shield technology and a Bitcoin trading prediction algorithm, but shares fell 28.3% to $0.81.
The sharp decline in MLGO's stock price despite the announcement of new technologies suggests a negative market reaction, possibly due to concerns over the implementation or effectiveness of the technologies, or broader market conditions affecting tech stocks.
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