Red Dawn- 24/7 Market News Snapshot 8 Feb 2024- (NASDAQ:HKIT), (NASDAQ:MLGO), (NASDAQ:HOLO), (NASDAQ:WIMI), (NASDAQ:BETS), (NASDAQ:CCTG)

DENVER, Colo., Feb. 8, 2024 (www.247marketnews.com)- The following companies published announcements or are trading higher on higher-than-usual volume; Hitek Global Inc. (NASDAQ:HKIT), MicroAlgo Inc. (NASDAQ:MLGO), MicroCloud Hologram Inc. (NASDAQ:HOLO), WiMi Hologram Cloud Inc (NASDAQ:WIMI), Bit Brother (NASDAQ:BETS), CCSC Technology International Holdings Ltd (NASDAQ:CCTG)

Chinese momos are all over the place and I’m not sure how this can end well. We still believe that it’s best to trade these with a very short timeframe in mind, but this morning’s momentum movers include;

We, typically, avoid covering certain foreign based listings, but covered MicroCloud Hologram (NASDAQ:HOLO) at $3.44 in yesterday’s premarket because its trading volume and move was compelling. It went way higher than we suspected and is now trading at $27.23 (+51.28%), on 1.6M shares traded.

“The Communications Industry Association is a cross-sectoral, cross-regional and cross-ownership national industry organization and non-profit social and economic group. The Association constantly promotes technological innovation, technology export, and industry development in the communications industry, and contributes to the economic development of the communications field. The business unit in charge of the Association is the Ministry of Industry and Information Technology. Under the guidance of the Ministry of Industry and Information Technology, the Association carries out industry management, information exchange, business training, international cooperation, consulting services, etc., with the main objectives of promoting industry technological progress, improving product quality, strengthening economic and technological cooperation between enterprises and institutions, promoting unity, improving the quality of member units and economic benefits, and promoting communication products to meet the ever-increasing global demand and improve competitiveness in the international market.Applied UV, Inc. is dedicated to developing and acquiring smart building technologies for healthcare, hospitality, commercial and municipal markets. With Sterilumen, MunnWorks, LED Supply Co., and PURO, the company has a diverse portfolio that addresses various needs in the market. Applied UV Inc. is committed to innovation and excellence in providing solutions for a healthier and smarter world.”

MicroCloud Hologram, at least, humored us with an announcement, yesterday. The rest didn’t even bother.

Hitek (NASDAQ:HKIT) is trading at $7.47, up $6.33 (+555.29%), on 18.1M shares traded.         

“Hitek Global Inc., headquartered in Xiamen, China, is an information technology (“IT”) consulting and solutions service provider in China. The Company has two lines of business: 1) services to small and medium businesses, which consists of Anti-Counterfeiting Tax Control System (“ACTCS”) tax devices, ACTCS services, and IT services, and 2) services to large businesses, which consists of hardware sales and software sales. The Company’s vision is to become a one-stop consulting destination for holistic IT and other business consulting services in China. For more information, visit the Company’s website at http://ir.xmhitek.com/.”

MicroAlgo (NASDAQ:MLGO) is trading at $0.938, up $0.368 (+64.56%), on 11.5M shares traded.        

MicroCloud Hologram ran yesterday and this sounds kind of the same, so, why not, I guess?

“MicroAlgo Inc. (the “MicroAlgo”), a Cayman Islands exempted company, is dedicated to the development and application of bespoke central processing algorithms. MicroAlgo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of MicroAlgo’s services includes algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. MicroAlgo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for MicroAlgo’s long-term development.”

CCSC Technology (NASDAQ:CCTG) is trading at $5.50, up $2.91            (+112.37%), on 3.4M shares traded.

“CCSC Technology International Holdings Limited, is a Hong Kong-based company that engages in the sale, design and manufacturing of interconnect products. The Company specializes in customized interconnect products, including connectors, cables and wire harnesses that are used for a range of applications in a diversified set of industries, including industrial, automotive, robotics, medical equipment, computer, network and telecommunication, and consumer products. The Company produces both OEM (“original equipment manufacturer”) and ODM (“original design manufacture”) interconnect products for manufacturing companies that produce end products, as well as electronic manufacturing services (“EMS”) companies that procure and assemble products on behalf of such manufacturing companies. The Company has a diversified global customer base located in more than 25 countries throughout Asia, Europe and the Americas. For more information, please visit the Company’s website: http://ir.ccsc-interconnect.com.”

WiMi Hologram (NASDAQ:WIMI) is trading at $1.22, up $0.419 (+52.27%), on 4M shares traded.        

MicroCloud Hologram ran yesterday and this sounds kind of the same, so, why not, I guess?

“WIMI Hologram Cloud, Inc. is a holographic cloud comprehensive technical solution provider that focuses on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. Its services and holographic AR technologies include holographic AR automotive application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.”

Bit Brother (NASDAQ:BETS) is trading at $2.8301, up $1.0501 (+58.99%), on 3.5M shares traded.       

“Bit Brother Limited Receives Notice of Delisting from Nasdaq” Feb 2, 2024

 ‘Bit Brother Ltd is a multifaceted corporation with operations spanning business management in China and blockchain and cryptocurrency ventures in the United States. Within the U.S. jurisdiction, the company strategically manages and integrates cryptocurrency mining facilities. With a dedicated team of specialists, company has successfully expanded two mining ventures and is committed to further growth. For more information, please visit: www.bitbrother.com. ‘

China SXT Pharma (NASDAQ:SXTC) is trading at $4.00, up $2.17 (+118.58%), on 2.7M shares traded.

“Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com.”

CONTACT:

24/7 Market News

[email protected]

24/7 MARKET NEWS, INC Disclaimer

24/7 Market News (24/7MN) is a third-party publisher and online news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ, and micro-cap exchanges. 24/7MN holds no investment licenses and is NOT a financial advisory firm, investment adviser, analyst, or broker-dealer and does not undertake any activities that would require such registration. 24/7 MN is not affiliated with any company written about in this release and owns no shares of stock. 24/7MN’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.

The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and based on publicly available information which is believed to be reliable.

Few succeed in the stock market. Don’t trade if you’re not able to devote the necessary time. Earmark your surplus funds that you’re prepared to lose. Assess your risk appetite and set your stops accordingly, and honor your stop losses. Always employ loss limiting strategies. Be prepared to be blindsided by hidden risks, a bad company financing or other move can turn gains into losses.

Learn technical analysis, charting, patterns, and setups. Buying at the bottom and selling at the top is a myth. The middle half of a move is the sweet spot and learn how to exit a winning position, because trying to time the exact top can turn into big losses. Trade small and take advantage of small price move strategies, like scalping.

Remove emotional and psychological biases, and consider that you’re competing against professionals who’re deploying a number of powerful stock market tools. Successful traders make more on their winners than they lose on their losers. Learn how to interpret the ECN/Level 2 data.

The stocks and strategies discussed are simply ideas only and are in no way financial advice or recommendations. The author may or may not at any time be holding securities discussed. The author may or may not enter trades in the stocks mentioned. Some positions in mentioned stocks may already be held or are being adjusted or are simply examples, ideas or discussion topics. You are always trading at your own risk.

Please go to www.247marketnews.com or https://www.247marketnews.com/terms-disclaimer/ for further information.

Connect with 24/7 Market News:

www.247marketnews.com 

https://www.facebook.com/247MarketNewsHQ/

About 24/7 Market News

As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information.  24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

CONTACT:
24/7 Market News
[email protected]

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.