Retail Exuberant After MicroCloud Hologram Stock More Than Doubles On Quantum Computing Progress
MicroCloud Hologram said its R&D in quantum technology has helped it develop an advanced technological solution.
FollowShenzhen China-based MicroCloud Hologram, Inc. ($HOLO) shares skyrocketed on Monday following an announcement regarding its achievements in the hot-and-happening technology area of quantum computing.
MicroCloud Hologram provides holographic technology services, including holographic light detection and ranging (LiDAR) solutions, and holographic digital twin technology services.
On Monday, MicroCloud Hologram said its R&D in quantum technology has helped it develop an advanced technological solution that allows the use of a “fast adiabatic driving protocol to achieve coherent control of two heavy hole spin qubits in a double quantum dot (QD) system.”
The fast adiabatic driving protocol “carefully designs control paths according to the system's adiabatic evolution rules, guiding the two heavy-hole spin qubits along predefined trajectories with high-precision quantum state fidelity to achieve state transitions,’ the company said.
According to MicroCloud Hologram, this approach avoids the risk of quantum state distortions caused by abrupt energy changes or external disturbances, thereby achieving higher quantum state fidelity compared to traditional protocols.
The company also said it made new research progress in quantum gate control, having implemented both single-qubit and two-qubit gate operations, especially NOT, CNOT, and SWAP-like gates. This helps achieve quantum state fidelities as high as 99%.
MicroCloud Hologram shares gap-opened Monday’s session higher, at $4.51, up from the previous session’s $2.40. The stock gyrated in a range of $3.42 and $7.81 before settling 167.08% higher at $6.41.
However, the stock is down a steep 91% year-to-date.
HOLO sentiment and message volume December 31, 2024, as of 2:23 am ET | Source: Stocktwits
On Stocktwits sentiment toward the stock has improved from ‘bullish’ a day ago to ‘extremely bullish’ (93/100), marking the highest since mid-May. Message volume has spiked from ‘normal’ to ‘extremely high.’
A watcher of the stock said he would aggressively buy any dip going into Tuesday’s session.
Another called for fellow retailers to buy the stock so that shorts get squeezed out. About 13.41% of the outstanding shares are held as shorts.
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