Benzinga | Oct 29, 2021 04:29PM EDT

Why WiMi Hologram Cloud Shares Surged Today

WiMi Hologram Cloud Inc (NASDAQ:WIMI) surged higher by 12.84% Friday, closing at $4.92 after the company announced the submission of a trademark application for "WIMI METAVERSE."

WiMi Hologram Cloud said the trademark will help the company improve the intellectual property protection system, maintain a leading position in technology and enhance its core competitiveness.

The company said it plans to use the "WIMI METAVERSE" trademark to generate commercial value in Metaverse commercial applications.

According to WiMi Hologram Cloud, "Metaverse refers to the virtual world parallel to the real world through the technical support of AR and VR, which is expected to reconstruct the virtual world, and bring new opportunities in the platform ecology, hardware demand, infrastructure, content form and other aspects."

WiMi Hologram Cloud offers augmented reality based holographic services and products that cater to its customers.

WIMI Price Action: WiMi Hologram Cloud has traded as high as $12.93 and as low as $3.47 over a 52-week period.

Photo: Graphics Ninja from Pixabay.