MicroCloud (HOLO) Ends 4 Days of Gains After $200-Million Crypto Venture

MicroCloud Hologram Inc. (NASDAQ:HOLO) is one of the stocks that bleed heavily.

MicroCloud Hologram declined by 14.91 percent on Monday to end at $5.88 apiece as investors appeared to have taken profits following four consecutive days of gains.

Last week, MicroCloud Hologram Inc. (NASDAQ:HOLO) announced investing up to $200 million in Bitcoins and cryptocurrency-related securities derivatives, generating as much as $34 million in income.

According to the company, it currently holds $394 million in cash reserves and plans to allocate the total amount toward derivatives and technology development in cutting-edge fields such as Bitcoin-related blockchain, quantum computing, quantum holography, and AI-powered AR.

MicroCloud (HOLO) Ends 4 Days of Gains After $200-Million Crypto Venture

A computer programmer working on a holographic digital twin technology software solution.

MicroCloud Hologram Inc. (NASDAQ:HOLO) said that purchasing Bitcoin and cryptocurrency derivatives is a key initiative in its exploration of the cryptocurrency market, helping it gain insights into market mechanisms, price fluctuations, and investment strategies.

While we acknowledge the risk and potential of HOLO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HOLO and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.