WiMi Hologram Cloud (NASDAQ:WIMI) stock is rising higher on Thursday as the company’s shares get caught up in the speculative rally of another company’s stock.
WiMi Hologram Cloud is soaring after investors sent shares of MicroCloud Hologram (NASDAQ:HOLO) stock surging over 1,000% higher on Wednesday. The positive movement for HOLO stock continues today and it looks like traders are latching onto WIMI stock as well.
That makes sense as these two companies share more than a few qualities. For example, both of them are based out of China and focus on holographic services. WiMi Hologram Cloud uses its services for augmented reality () advertising and other similar products. Meanwhile, MicroCloud Hologram’s major focus is on light detection and ranging ( ) systems.
WIMI Stock Movement on Thursday
With this speculative trading comes more than 23 million shares of WIMI stock changing hands. That is an incredible surge in trading volume compared to the company’s daily average of about 608,000 shares. Investors will also note that the company’s float is about 107 million units as of this writing.
WIMI stock is up 21.9% as of Thursday morning but only up 13.4% since the start of the year.
Investors who are seeking out even more of the most recent stock market stories will want to stick around!
We have all of the hottest stock market news that traders need to know about on Thursday! A few examples include what’s happening with Casava Sciences (NASDAQ:SAVA), Joby Aviation (NYSE:JOBY) and Aurora Cannabis (NASDAQ:ACB) stock today. You can learn more on these matters at the following links!
More Stock Market News for Thursday
- Cassava Sciences (SAVA) Stock Pops on Positive Results in Simufilam Trial
- JOBY Stock Alert: Joby Aviation Receives FAA Maintenance Certificate
- ACB Stock Alert: The $50 Million Reason Aurora Cannabis Is Up Today
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On the date of publication, William White did not hold (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.