Shares of WiMi Hologram Cloud (NASDAQ: WIMI) skyrocketed on Wednesday morning after the company announced newly patented laser technology with applications in driverless cars, electric vehicles, medical imaging, and more. The company’s stock has languished over the last several months — recently down more than 75% from 52-week highs. However, WiMi stock is turning it around today, up 20% as of 10:45 a.m. EST.
According to the press release, WiMi has been busy researching and developing 3D holographic pulse laser technology. With autonomous driving, vehicles use sensors to measure things, like the distance between your car and those around it. It seems WiMi’s device can take that information and present a holographic projection of this information to those in the vehicle.