MicroAlgo Stock Catches Retail Spotlight With 13% Weekly Jump As Short Interest Dips

Technology services firm MicroAlgo’s stock has shot up by more than 13% in the past week, drawing considerable retail excitement.

MicroAlgo was among the top five most active stocks and among the top 10 most watched on Stocktwits on Friday.

Retail sentiment turned ‘extremely bullish’ (79/100) compared to ‘bearish’ (30/100) a day before with accompanying message volumes hovering in the high territory (68/100).

Short interest in the MLGO stock is also on the decline, reflecting a broader bullish sentiment building around the company. Short interest is a reflection of how many traders are betting on a company’s stock price to fall.

According to Benzinga, short interest as a percentage of MLGO float is down 21.8% since its last report, signaling investors are taking a more positive view on the company. About 16.43% of its shares were sold short, Benzinga reported, citing the company, and estimated it would take one day for traders to recover those positions.

Many Stocktwits users gave a thumbs up to the stock, whose retail following has jumped by over 18% over the past month, while message volumes have soared by 540% in the same period.

New York-based MicroAlgo builds custom central processing algorithms that help its clients on a range of technical goals like improving customer satisfaction, reducing power consumption and direct cost savings.

In June, the company announced it will set up a “micro-consciousness” quantum research center that will combine physics, mathematics, medicine, genetics, computer science, biology, chemistry, philosophy, psychology, and sociology, to study consciousness.

MLGO stock has inched up in the past week and month but it’s well below its historical highs. In June, it hit a yearly high of $17.

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