What's Going On With MicroAlgo Stock?

MicroAlgo, Inc. MLGO shares are trading lower Tuesday. The stock has pulled back following a recent surge in price related to the company's announcement of a knowledge-enhanced backtracking search algorithm to boost the performance and efficiency of research institutions.

What To Know: Shares of MicroAlgo surged last Friday on news of the algorithm. The goal of the technology is to "improve the efficiency, accuracy and adaptability of problem-solving and provide more possibilities for optimization and decision support for enterprises and research institutions."

While news of the algorithm sent shares of MicroAlgo soaring last Friday, shares have since pulled back, with the stock sharply lower on Tuesday.

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MLGO Price Action: Shares of MLGO are down 21.3% at $2.37 at the time of publication, according to Benzinga Pro.

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