What's Going On With MicroCloud Hologram Stock?
Portfolio Pulse from Erica Kollmann
MicroCloud Hologram Inc. (NASDAQ:HOLO) shares surged as retail investors targeted heavily-shorted stocks, influenced by Keith Gill's (Roaring Kitty) social media activity. The company, part of the meme stock rally, saw its shares climb with a trading volume significantly above its 100-day average, driven by a short interest of 19.76% in its shares.
May 14, 2024 | 3:05 pm
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MicroCloud Hologram Inc. shares experienced a significant increase due to a combination of high short interest and renewed interest from retail investors, partly influenced by social media.
The surge in MicroCloud Hologram's stock price can be attributed to the meme stock phenomenon, where retail investors target stocks with high short interest, as indicated by the 19.76% short interest in HOLO. The significant increase in trading volume, over 8 times its 100-day average, suggests a strong retail investor presence, likely to cause short-term price volatility.
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