Meme Traders Fuel 2,650% Spike in Battered Holographic-Tech Firm

A battered Chinese company that’s developing holographic technology captured the attention of the meme stock crowd. The prize: a 2,650% jump.

MicroCloud Hologram Inc. soared as high as $41.53 Thursday from a $1.50 record low earlier this week, with more than $1.7 billion in shares traded as posts about the stock pop up across platforms like Reddit’s WallStreetBets and StockTwits. Even with the eye-popping move, shares remained 67% lower than a January 2023 high with a trading history that resembles the odds at a horse-track.

The shares spiked as much as 131% on Thursday, before trimming gains to 23% ...