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MicroCloud Hologram (NASDAQ:HOLO) stock is on the move Tuesday despite a lack of news from the Chinese hologram company.
Instead, investors have heavy trading of HOLO stock to thank for the volatility today. This has some 1.2 million shares of the stock on the move as of this writing, For the record, the company’s daily average trading volume is well below that at 259,000 shares.
That heavy trading saw shares of HOLO stock take off in pre-market trading. That landed it on our list of biggest pre-market stock movers this morning with a 62% gain. However, the company’s shares are now down 12.2% as of Tuesday morning.
Considering the lack of news and recent volatility, it seems likely that HOLO stock was the target of a pump and dump today. That makes sense when looking at what it’s share price did this morning. It also means more volatility could be on the way. In other words, investors will want to be careful about taking a stake in MicroCloud Hologram today.
What Does MicroCloud Hologram Do?
MicroCloud Hologram is a Chinese-based hologram company. Specifically, it’s focused on researching and developing hologram technology. This has it operating two business units dedicated to holographic solutions and holographic technology services.
HOLO stock closed out trading on Monday at $12.96 per share. Investors will also keep in mind that the company’s market capitalization is $586.828 million.
Stock traders looking for more of the latest market news will want to keep reading!
InvestorPlace is home to all of the hottest stock coverage traders need to know about on Tuesday! Our coverage includes what’s happening with Lyft (NASDAQ:LYFT) stock, why stocks are down today, and more. You can catch up on that news at the links below!
More Tuesday Stock Market News
- LYFT Stock Gets a Boost From Analyst Upgrade
- Why Are Stocks Down Today?
- 3M Layoffs 2023: What to Know About the Latest MMM Job Cuts
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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