MicroAlgo Rockets Up-And Plunges Back Down (NASDAQ:MLGO)

Source: seekingalpha.com seekingalpha.com

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MTStock Studio/E+ via Getty Images Thesis MicroAlgo Inc. (NASDAQ:MLGO) was quite the story on December 6, 2023, but by the next afternoon, it was revealed to be a flash in the pan, and just one of several unsupported price spikes in the past year. Data by YCharts Going up On Wednesday, December 6, 2023, the shares of MicroAlgo shot up, from $2.42 at the previous close to $10.76 before closing at $9.58. As those blank spots on the chart show, the price even gapped up twice. The next day, the bears were out in force, pushing the price back down...