MicroCloud Hologram Inc (NASDAQ:HOLO) shares are trading sharply higher Friday morning after the company announced a strategic move into the cryptocurrency market with the purchase of up to $200 million in Bitcoin (CRYPTO: BTC) and cryptocurrency-related securities derivatives.
The company confirmed that as of Friday morning, its cumulative investment income from these assets has already reached $34.02 million.
What To Know: MicroCloud says this move into digital assets is part of a broader capital reserve strategy aimed at enhancing the company’s financial stability and long-term growth potential. HOLO stated that this initiative will allow it to gain valuable insights into the cryptocurrency market’s mechanisms and volatility.
Currently holding $394 million in cash reserves, HOLO plans to allocate these funds toward its new crypto-focused strategy as well as for technology development in other cutting-edge fields.
The company has identified Bitcoin-related blockchain technology, quantum computing, quantum holography and AI-powered augmented reality as key areas for future investment and innovation.
The company’s goal is to diversify its asset portfolio, enhance its risk resilience and ultimately drive greater returns for its shareholders.
What Else: According to data from Benzinga Pro, Friday morning’s trading volume has exploded to nearly 29 million shares, vastly exceeding the 100-day average volume of just 3.4 million.
This surge in activity is particularly noteworthy given that over 23% of the stock’s available float is held by short-sellers, indicating a significant level of bearish sentiment that could fuel a potential short squeeze.
Price Action: According to data from Benzinga Pro, HOLO shares are trading higher by 15.4% to $6.94 Friday morning. The stock has a 52-week high of $608.00 and a 52-week low of $4.16.
Read Also: MicroCloud Hologram Proposes Multi-Qubit Quantum State Sharing Scheme
How To Buy HOLO Stock
By now you're likely curious about how to participate in the market for MicroCloud Hologram – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
In the case of MicroCloud Hologram, which is trading at $6.04 as of publishing time, $100 would buy you 16.56 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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