Why SOS Limited Stock Soared Today The company is now officially mining cryptocurrency, and it's about to mine a whole lot more. What happened Shares of SOS Limited (SOS 1.19%) soared on Monday after the company announced its second shipment of cryptocurrency mining machines has been installed.
Full Answer
Is SOS Limited expected to go up?
SOS Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks....Predicted Opening Price for SOS Limited of Thursday, February 24, 2022.Fair opening price February 24, 2022Current price$0.79$0.76 (Undervalued)
Why was SOS Limited up?
Crypto mining was the clear growth driver for SOS Limited with 132.1 Bitcoins (CRYPTO:BTC) and 1,853.1 Ethereum (CRYPTO:ETH) mined in the first six months of the year. Mining rates more than doubled in the second quarter of 2021, versus the first quarter.Sep 10, 2021
Is SOS Limited a good buy?
(CPSS), having an overall A (Strong Buy) rating.
What is the prediction for SOS stock?
Sos Ltd (NYSE:SOS) The 1 analysts offering 12-month price forecasts for Sos Ltd have a median target of 20.00, with a high estimate of 20.00 and a low estimate of 20.00. The median estimate represents a +3,666.48% increase from the last price of 0.53.
Is SOS limited a legit company?
The complaint alleges that, in truth, SOS is a fraudulent stock promotion scheme that has concealed related party transactions, and has misrepresented the type and/or existence of bitcoin mining rigs SOS claimed to have purchased earlier this year. Investors allegedly began to learn the truth on Feb.Nov 2, 2021
How do I get $SOS Crypto?
How to Buy SOS TokenOpen an online account. The first step to purchasing SOS is to open an account with an exchange like Gate.io. ... Buy a wallet (optional). You can choose either a software wallet and hardware wallet for crypto storage. ... Make your purchase.Dec 29, 2021
Why is SOS being shorted?
A short squeeze for SOS occurs when it has a large amount of short interest and its stock increases in price. This forces short sellers to cover their short interest positions by buying actual shares of SOS, which in turn drives the price of the stock up even further.
Is SOS limited undervalued?
Investors are now beginning to speculate on the amount of revenues that can be produced by this emerging growth gem in 2H 2021 and full year 2022. Clearly, SOS shares may now be among the most undervalued in the entire market.
What happened
Shares of SOS Limited ( SOS -1.21% ) pulled back on Thursday. The stock had rallied the day before, and some traders hoped it was just the start of a bigger move. But yesterday's rally appears to already be fizzling out with SOS stock down 7% as of 1 p.m. EDT.
So what
On Wednesday, the price of popular cryptocurrency Bitcoin was down, causing the stocks of Bitcoin miners to fall as well. These include companies like Marathon Digital Holdings, Riot Blockchain, and The9. SOS is usually part of this list. However, SOS stock skyrocketed 28% higher yesterday as a group on Reddit tried to spark a short squeeze.
Now what
SOS skyrockets yesterday and pulls back today. It sure can make you dizzy. Keep from running around in circles by setting your focus on a solid buy-and-hold investing strategy. When everyone else is just chasing the wind, you can rest on your long-term thesis.
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When did SOS mine Bitcoin?
SOS didn't mine its first Bitcoin until Feb. 24, almost two full months into the quarter. Therefore, it's logical to assume SOS could mine far more than this on a quarterly basis. Ether didn't hit all-time highs over the weekend, but it came close to $2,000.
When is Motley Fool 2021?
Mar 15, 2021 at 11:25AM. Author Bio. After spending more than a decade travelling the world exploring different cultures and languages, I'm happy to now be contributing to the Motley Fool's mission to make the world smarter, happier, and richer.
Could there suddenly be a lot of motivated sellers?
I've been a contributor with the Motley Fool since 2019 and it's been a supreme joy to try to help make the world a little smarter, happier, and richer every day. What's great about exploring business and the economy is the insight it gives you into how things are in the world.
What happened
Shares of SOS Limited ( NYSE:SOS), an insurance-marketing business turned cryptocurrency miner, fell sharply on Thursday. The price of Bitcoin and Ethereum are down over the past 24 hours, so this is likely one contributing factor. But highfliers like SOS are generally selling off today. As of 12:45 p.m. EST, the stock was down almost 14%.
So what
There's possibly more that's pulling SOS stock down today. According to documents filed with the Securities and Exchange Commission yesterday, the company is offering more of its stock via warrants.
Now what
Even after falling today, SOS stock is still up close to 400% year to date. These kind of gains are atypical in the stock market, so a pullback isn't overly surprising. If I were a shareholder, I'd be focused on two things.
The stock could keep falling if management keeps diluting shareholders at this pace
I've been a contributor with the Motley Fool since 2019 and it's been a supreme joy to try to help make the world a little smarter, happier, and richer every day. What's great about exploring business and the economy is the insight it gives you into how things are in the world.
What happened
Shares of SOS Limited ( NYSE:SOS) plunged on Tuesday after the company announced a substantial stock offering. Many other cryptocurrency stocks rose for the session because Bitcoin was trading higher. However, the stock offering was too much for SOS to overcome, and it finished the day down almost 11%.
So what
To be more specific, as an international stock, SOS Limited trades in the U.S. as American depository receipts (ADR), which not technically common shares. In the press release from the company, management said it's selling 25 million ADRs and 25 million warrants.
Now what
Stocks are volatile in the short term, which is why it's a good idea to not focus on the price per share (or in this case, the price per ADR) day by day. It's better to focus on business results and expect the price to reflect those results in due time.
