Core Viewpoint - MicroAlgo (NASDAQ:MLGO) stock experienced a significant decline following a substantial rally, primarily due to profit-taking rather than negative news [1][3]. Group 1: Stock Performance - MLGO stock surged by 669.9% during normal trading hours on Tuesday, with nearly 184 million shares traded, compared to its average daily trading volume of approximately 3.7 million shares [1][2]. - As of Wednesday morning, MLGO stock is down 32.1%, with over 1.4 million shares changing hands [3]. Group 2: Joint Research Center Announcement - The stock's rally was driven by the announcement of a joint micro-consciousness quantum research center with WIMI (NASDAQ:WIMI), focusing on various fields including physics, mathematics, and computer science [2].
Why Is MicroAlgo (MLGO) Stock Down 32% Today?