MicroAlgo (NASDAQ:MLGO) stock is on the rise Monday after the central processing algorithm solutions company announced its creation of a deep clustering algorithm “based on multi-level feature fusion.”
According to a press release, the firm’s new deep clustering algorithm solves some problems present in current models. That includes issues with data dimensionality disaster and feature redundancy. The algorithm does so by extracting data at different levels.
MicroAlgo notes that it plans to continue the development of its deep clustering algorithm. That includes creating “more efficient feature extraction methods, more flexible clustering algorithms, the combination of deep clustering algorithms with other tasks, and the modeling and handling of uncertainty, and other directions.”
MLGO Stock Movement on Monday
With all of this news comes an increased interest in MGLO stock on Monday. That has more than 5.7 million shares changing hands as of this writing. For the record, that’s quickly closing in on the company’s daily average trading volume of about 7.5 million shares.
Depending on how the development of this deep clustering algorithm goes, shares of MGLO stock could see further catalysts from its progress. That means traders will want to keep an eye on MicroAlgo.
MLGO stock is up 68.2% as of Monday morning. However, the stock was down 51.6% year-to-date (YTD) when markets closed on Friday.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest market happenings worth reading about on Monday! Among that is what has shares of Next eGO (NASDAQ:EGOX) stock up, the biggest pre-market stock movers and more. All of that info is ready to go at the links below!
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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.
