MicroCloud Hologram (NASDAQ:HOLO) stock is up on Wednesday in what appears to be an instance of speculative traders betting on the holographic technology company’s shares.
HOLO stock is already seeing heavy trading this morning with more than 5.8 million shares changing hands. That’s set to surpass its daily average trading volume of about 6.7 million shares. It’s also worth noting the company’s float is about 950,000 units.
It’s worth mentioning that there’s no recent news from MicroCloud Hologram that would cause its stock to rally today. That includes a lack of press releases or filings from the company.
What’s Behind the HOLO Stock Rally?
One thing that could be affecting HOLO stock is the recent rising interest in artificial intelligence (AI) companies. MicroCloud Hologram operates in this sector with the integration of AI into its holographic technology.
Another potential reason for the rally is the upcoming Nvidia (NASDAQ:NVDA) GPU Technology Conference (GTC). This is set to kick off on March 18 and could be a catalyst for HOLO shares.
When Nvidia is in the news, it often causes a rally for other AI stocks. That’s potentially one reason why traders are taking extra interest in HOLO lately.
HOLO stock is up 30.5% as of Wednesday morning.
Investors seeking out all of the latest stock market stories today are in luck!
We have all of the hottest stock market news that investors need to know about on Wednesday! That includes everything happening with SoundHound AI (NASDAQ:SOUN) stock, Eli Lilly (NYSE:LLY) stock and Dollar Tree (NASDAQ:DLTR) stock today. You can get up to speed on all of these matters at the following links!
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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.
