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Why WiMi Hologram Cloud Stock Rocketed Higher Today

TheMotleyFool

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Why WiMi Hologram Cloud Stock Rocketed Higher TodayPhoto, wide shot, wide-angle lens, Artificial intelligence developer, sunset photo at golden hour, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/ee32e77c-b7d6-424b-91ea-4023f2292688.png

Shares of WiMi Hologram Cloud (NASDAQ: WIMI) were up 35% at 11:25 a.m. EDT on Wednesday after the company reported strong earnings results.

Revenue more than tripled year over year to RMB516 million ($79.9 million) for the first half of 2021. Net profits increased 40% year over year to RMB32 million ($5 million), even while the company significantly ramped up spending on research and development.

Image source: Getty Images.

Source Fool.com

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