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Stock Alert: WiMi Hologram Adds 9% Following Project Win

Shares of hologram augmented reality technology provider WiMi Hologram Cloud Inc. (WIMI) are up more than 9% Friday morning at $11.02.

WiMi Hologram said it has won the bid for the second phase of China Mobile and Media Cloud Platform's remote interaction holographic project.

China Mobile is the largest mobile communication operator in China with nearly 165 million customers with 5G data plan and about 775 million customers with 4G data plan, as of December 2020.

"Going forward, as domestic communication operators continue to increase their investment into 5G technologies each year, it is expected that WiMi will also achieve significant advances and strategic breakthroughs in terms of its collaborations with 5G operators in China," WiMi Hologram said.

WIMI has been trading in the range of $3.20- $29.5 in the last one year.

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