As Bitcoin (CCC:BTC-USD) prices have remained strong, so have the prices of crypto mining plays like SOS Ltd. (NYSE: SOS). SOS is a Chinese tech company that provides a wide range of services. Press question mark to learn the rest of the keyboard shortcuts. Crypto mining and blockchain participant SOS Restricted (NYSE: SOS) has been having a busy couple of weeks. SOS stock has seen a nice boost in the last week after the company announced its intent to establish a digital asset exchange. SOS stock and crypto. By digging deep and uncovering the data, perhaps we can find reasons to brighten our outlook and even — if you can handle the risks — start purchasing a few shares. I was concerned that the sentiment had recently turned ugly and it wasn’t the right time to jump into SOS stock. I’m referring to the many accusations vocal short sellers have made about the company over the past few months. The company announced earlier this month that it had received 5,000 mining rigs five days ahead of schedule. This suggests a mismatch between financials and sentiment — and therefore a possible buying opportunity. Back in March, I made the case why you didn’t need to be a crypto bear to avoid this Bitcoin (CCC:BTC-USD) mining play. quotes delayed at least 15 minutes, all others at least 20 minutes. It’s too early to tell whether the aforementioned crypto selloff will continue. Nasdaq All rights reserved. Therefore, investors should always keep an eye out for developments in the world of crypto and the blockchain. On March 12, I issued a warning to investors to sit on the sidelines in regard to China-based technology company SOS Limited (NYSE:SOS). By. Recently, SOS has been entering the growing cryptocurrency market with its own crypto … All rights reserved. SOS stock appeared to get caught in a short-squeeze by Reddit investors on April 7 when it jumped nearly 30% to $5.78 a share during the trading day. How Far Can Cardano (ADA) Rise? Compared to its 2020 revenues (around $49.5 million), that’s an insane valuation. But whether major cryptocurrencies recover or not, SOS Limited has more room to fall. However, it’s the cryptocurrency mining business that may be the most crucial to the company. Log In Sign Up. Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. Chinese blockchain services company SOS Limited (NYSE: SOS) has been one of the best-performing crypto mining stocks in the market. WhatsApp. 189. The U.S. Securities and Exchange Commission defines a penny stock as a stock with a market share under $250 million or $300 million. SOS is a Chinese tech company that provides a wide range of services. Only time will tell whether Bitcoin mining companies at large can live up to expectations. I do a stock analysis on SOS Limited or SOS Stock. Once those rigs are installed and operational, SOS Limited expects to obtain around 400 gigahertz of ETH hash power. SOS stock popped last month but now is down more than 50% off its all-time highs, and that might not even be … Flash forward two months, and that remains to be the case. 10, 2021, 11:48 AM . by admin. New up and comer in the crypto mining game. … SOS (NYSE:SOS) +10% plans to invest heavily in the crypto mining business to take advantage of the growing investors' realization of the values and potentials of the crypto … News Bureau - 03/12/2021. SOS Limited received 575 ETH mining rigs on May 7 and is reportedly preparing to install them in the near future. Considering its … As of May 7, SOS stock had fallen to $3.91. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. On the flipside, though, is that falling prices make a larger impact (in a bad way) on profitability. A crypto crash is underway with several of the most popular cryptocurrencies taking a beating. Source: Mark Agnor / Shutterstock.com Back in March, I made the case […] Copyright © They have done so 4 weeks in a row. Source: Mark Agnor / Shutterstock.com Since that time, the share price has […] There’s been a lot going on with this name. Press releases from the corporate have lined a whole lot of new enterprise … Since that time, the share price has declined sharply. First, of course, is the possible outsized losses from falling crypto prices, countering any outsized windfalls from rising prices. I remain bullish on crypto despite the recent selloff, but that bullishness doesn't extend to still-dodgy SOS stock. VIEWS. March 27, 2021 at 1:17 p.m. 17, 2021, riot blockchain and marathon digital were up over 6,000% and 5,000%, respectively. Even compared to its own projections for this year (286% revenue growth, to around $191 million), much of its possible revenue growth (which hinges on both high Bitcoin prices, and the company successfully getting its new mining rigs online) is factored into its share price. A surge in investor interest related to the spike in cryptocurrency … Yet, don’t take that to mean I’ve changed my mind about SOS Limited (NYSE:SOS) stock. expert 3 Artificial Intelligence Stocks Leading the New Wave. 7 Cryptocurrencies Under $2 That Could Be The Next Bitcoin, Ripple Crypto News: The May 21 Date That XRP Investors Need to Know, Cardano (ADA) Price Predictions: Why ADA Just Hit a Record High Despite Today’s Crypto Crash, Welcome to the Doge Pack: The Alaska Inu (LAS) Crypto Is Soaring 400% Today, Total revenues of $50.3 million, representing a 333.6% increase compared to fiscal year 2019, Gross profit of $13 million, signifying an increase of 513.5% over the prior year, Net profit of $4.4 million, a 193.3% year-over-year improvement, $10.1 million in operating income, marking an increase of 475.4% versus fiscal year 2019, Insurance marketing revenues of $49.2 million, representing a 325.2% increase 2019’s insurance marketing revenues. Stocks. That’s some serious mining power, and if this is only Phase I, then the stakeholders should prepare for bigger and better things. 190. That is, over time, it takes greater and greater computing power to “mine” for Bitcoin. DD. Now, if crypto prices bounce back, we may see less dramatic day-to-day price declines for SOS stock. I do my stock prediction on this crypto penny stock and tell you is it worth buying sos stock. But its valuation still doesn’t make much sense. How You Could Double Your Money at Least 6 TIMES This Year. Even with recent volatility, I remain a long-term bull on crypto. With other concerns at hand, not just underlying crypto price, the best move continues to be, “stay away.”. SOS’s rebuttal (via a press release) likely played a role, but “meme stock madness” and the continued enthusiasm for crypto mining stocks has likely been the larger factor. SOS Limited (NYSE: SOS) (the "Company" or "SOS") announced today that the first phase of the Leibodong Mine has been completed and 575 sets of ETH cryptocurrency … SOS stock … However, the company is quickly moving away from its meme stock tag with investments in the crypto mining business. At least 9 shot, 2 dead in separate shootings in Virginia Beach. Admittedly, it took a long time for SOS Limited to release its full-year 2020 fiscal data. Some of their claims may have been overblown. On May 19, iconic growth investor Louis Navellier will reveal how his powerful quant-based stock system could accelerate your wealth and help fund your retirement. Close. That is, while this alternative asset class has big long-term potential, this dodgy stock was clearly a name to stay away from. The hedge funds selling you the calls have over $60,000,000 in stock in SOS and will make sure the calls expire worthless. Avoid SOS Limited Even If Crypto Bounces Back, Matt McCall and the InvestorPlace Research Staff, crypto mining isn’t a “set it and forget it” type of operation, This is Actually the Most Important Infrastructure Boom, Creating New Industries, Transforming Old Ones, Generating Wealth, Donât Miss This Chance for Life-Changing Profits With Small High-Growth Stocks, Every Investor Should Own at Least Some of These Stocks, What Square’s $50 Million Bitcoin Investment Means for You, This Bill Gates-Backed Company Is Making Big Waves in the Battery World, 5G Stocks: This New Era of Massive Profits Just Began. by admin. May. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. Now, however, there’s fiscal data that could signal a turnaround. SOS stock is up a healthy 104% in the past three months, on the back of … --SOS Limited today announced its crypto mining plan. On top of overall concerns about crypto mining plays, SOS stock comes with a grab-bag of its own issues. The hedge funds selling you the calls have over $60,000,000 in stock in SOS and will make sure the calls expire worthless. Even with recent volatility, I remain a long-term bull on crypto. What Did the Stock Market Do Today? Recent remarks from Elon Musk may be the cause. 1125 N. Charles St, Baltimore, MD 21201. Copyright © 2021 InvestorPlace Media, LLC. 14 April 2021. in Bitcoin Mining, More Bitcoin. Even if crypto prices recover, and continue to head toward higher price levels, factors like the difficulty rate still make it uncertain whether this space will end up a highly profitable industry. And believe me, not everyone likes this company. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/05/avoid-sos-stock-even-if-crypto-bounces-back/. User account menu. And yet, the share price keeps on going down. Yet, that doesn’t make a great opportunity. Crypto prices can be a double-edged sword for mining plays like this one. Others are company-specific. SOS Stock: Why Crypto Mining Play SOS Is on the Move Today Sarah Smith 3/1/2021. 8 mins S&P 500 Index opens sharply lower, all majors sectors trade in red FXStreet 13 mins Xtant Medical Holdings, Inc. (XTNT) CEO Sean Browne on Q1 2021 Results – Earnings Call Transcript Seeking Alpha 17 mins What indicator do you feel like doesn’t get enough … There are other concerns at play as well. Bitcoin’s continued strength may save the day for SOS in the near-term. 1125 N. Charles St, Baltimore, MD 21201. Crypto Mining Stocks Are Risky, but SOS Stock Takes the Cake. SOS is a Chinese tech company that recently entered the burgeoning cryptocurrency market with its own mining operation and blockchain offering. SOS Stock: Why Crypto Mining Play SOS Is Plunging 15% Today. New up and comer in the crypto mining game. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 0. 0. SHARES. Either way, as the bullishness for this stock among speculators has long since dissipated, these issues will add more downward pressure on the stock. How so? Article printed from InvestorPlace Media, https://investorplace.com/2021/05/gradually-accumulate-shares-of-sos-stock-for-crypto-mining-exposure/. Source: Mark Agnor / … Recent remarks from Elon Musk may be the cause. But if we focus on the company’s financials, there is encouraging news to be found. With most of its costs fixed, an increase in prices results in much more of the increase falling straight to the bottom line. The negative sentiment could persist for a while, so please keep your stock positions small if you choose to invest. The InvestorPlace Research Staff member primarily responsible for this article held a position in Bitcoin. Share on Facebook Share on Twitter. SOS stock and crypto. 54. You can split the risks with this stock into two categories: industry specific and company specific. Or if it’s merely a case of short-term volatility. SOS Stock Can Become A Long-term Crypto mining Play. DD. By industry specific, I mean risk inherent with any sort of Bitcoin mining company. On the date of publication, Matt McCall held a position in Bitcoin. As of this writing, cryptocurrencies are selling off. Even with recent volatility, I remain a long-term bull on crypto. Click here to see what Matt has up his sleeve now. quotes delayed at least 15 minutes, all others at least 20 minutes. 1.5k. Facebook. 32. This is situated in the Leibodong Hydropower Station in Hejiang County, China. And, I’m not just talking about the possible challenges that come from procuring mining rigs, which due to the boom in crypto, are in scarce supply. Twitter. But as they say, better late than never. Gradually Accumulate Shares of SOS Limited for Crypto Mining Exposure, 7 Dividend Stocks to Avoid in Your Retirement Portfolio, Louis Navellier and the InvestorPlace Research Staff. The U.S. Securities and Exchange Commission defines a penny stock as a stock with a market share under $250 million or $300 million. Nasdaq Sure, short sellers have an objective. Intercoastal / Hudson Bay / Anson / Maxim Group are all working together to steal your money. Remember, DO NOT BUY CALLS. 3 Big Stories to Catch Up On. Indeed, SOS has been a highly volatile stock of late. Indiana Gov. SOS stock is unloved by the market despite the company's strong revenue growth. Why Crypto Market Is Down Today March 2021 : SOS Stock Price and News / SOS Limited - Stock Price Quote ... : It's broken down below a channel that has been ongoing since dec.. And with a volatile asset. But given that the company itself admitted that some of what the shorts accused it of was true, there’s credence to the claims that not everything with this company is on the up-and-up. 1125 N. Charles St, Baltimore, MD 21201. But buying SOS stock as a contrarian play would only make sense if there were reasons to like the company. SOS Stock Can Become A Long-term Crypto mining Play Chinese blockchain services company SOS Limited (NYSE: SOS) has been one of the best-performing crypto mining stocks in the market. Yet, don’t take that to mean I’ve changed my mind about SOS Limited (NYSE:SOS) stock. Chinese blockchain services company SOS Limited (NYSE:SOS) has been one of the best-performing crypto mining stocks in the market. But, no matter the future direction of Bitcoin, this stock is still in trouble. Here are some of the highlights for fiscal year 2020: With all of those triple-digit year-over-year increases, the bear thesis for SOS stock seems overstated. SHARES. All rights reserved. Share on Facebook Share on Twitter. That being said, it’s still wise to proceed with caution. SOS shares are currently trading at $3.31 after closing on Wednesday at $1.72. The shareholders should be glad to know that SOS Limited is progressing quickly in building out its collection of crypto-mining equipment. The Best ‘Green Coins’ to Buy. But, valuation is not the only issue at hand. The Company plans to have him lead a team to come up with a detailed plan of setting up a series of cloud crypto … All rights reserved. Chinese language blockchain companies firm SOS Restricted (NYSE:SOS) has been one of many best-performing crypto mining shares out there. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets. 1.5k. 1 day ago; See More Cryptocurrencies. Between a rich valuation, and the red flags surrounding it, this remains a name to avoid. There were no signs of a recovery, at least in terms of the price action. Posted by 1 month ago. Pinterest. Chinese technology company SOS Limited’s (NYSE: SOS) shares have rocketed 92.44% premarket on Thursday following the announcement that it has hired Dr Eric H Yan, an expert in cryptocurrency mining, security and insurance technologies. 31 March 2021. in Bitcoin Mining, More Bitcoin. The reason? Copyright © 2021 InvestorPlace Media, LLC. It’s probably not a coincidence that while cryptocurrencies like Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD) were rocketing to the skies in early 2021, SOS stock was also heading higher. By the end of February, the shares were approaching into penny-stock territory. As I put it when talking about another major publicly traded company in this space, crypto mining isn’t a “set it and forget it” type of operation. On March 12, I issued a warning to investors to sit on the sidelines in regard to China-based technology company SOS Limited (NYSE:SOS). How Synthetic Assets are Shaping the Future of Crypto Finance. Copyright © 2021 InvestorPlace Media, LLC. InvestorPlace - Stock Market News, Stock Advice & … David Moadel, InvestorPlace. VIEWS. In fact, the company just recently completed what it calls “Phase I” of the completion of its Leibodong Mine. For starters, shares may have fallen 35% in the past month, and around 80% off their highs. 1125 N. Charles St, Baltimore, MD 21201. So, what about company-specific risks? If underlying prices go up, stocks like this one go up even higher. Even if Bitcoin bounces back. As of this writing, cryptocurrencies are selling off. 54. This just goes to show that the stock is likely to follow cryptocurrency prices. Putting it another way, the fact that this miner has a lot more red flags than its rivals further makes the case that it’s a “steer clear” situation. Let me know your thoughts on SOS Stock and all the rumors.Logically Answered video: https://youtu.be/XzD3GzOsFT0 Discord: https://discord.gg/v5R9jH4 Based on most recent financial data, SOS is the only profitable company out of the three with a diversified business, not purely reliant on crypto mining. SOS inventory is up a wholesome 104% prior to now three … Yet, don’t take that to mean I’ve changed my mind about SOS Limited (NYSE:SOS) stock. David Moadel has provided compelling content — and crossed the occasional line — on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. There’s the “difficulty rate” factor as well. Recently, SOS has been entering the growing cryptocurrency market with its own crypto mining operation and blockchain offering. Recent remarks from Elon Musk may be the cause. Even as fading interest in cryptos mining plays, along with BTC’s recent performance, have knocked down this stock substantially. 0. SOS Limited has multiple business segments. Unfortunately, that bull run didn’t last very long. SOS stock is up a healthy 104% in the past three months, on the back of elevated short interest in the security. As of May 7, SOS stock … They just got their mining … Press J to jump to the feed. SOS’s rebuttal (via a press release) likely played a role, but “meme stock madness” and the continued enthusiasm for crypto mining stocks has likely been the larger factor. The important thing is that the results are in, and they’re quite impressive. Intercoastal / Hudson Bay / Anson / Maxim Group are all working together to steal your money. On top of overall concerns about crypto mining plays, SOS stock comes with a grab-bag of its own issues. Bitcoin’s … Mid-February was an exciting time for SOS stockholders as the buyers bid the share price up to a 52-week high of $15.88. Google+. SOS stock is up a … TLDR You may be discouraged from the bloody red market right now, especially for low- and mid-cap stocks as well as the general crypto stock market. Therefore, the sentiment is still quite negative — but maybe it’s so negative that contrarian investors should start to get interested. With his next-generation approach to investing, Matt McCall finds better stocks for you to invest in â not the same old companies over-hyped on Wall Street. I was concerned that the sentiment had recently turned ugly and it wasn’t the right time to jump into SOS stock. As of this writing, cryptocurrencies are selling off. They have done so 4 weeks in a row. Gradually Accumulate Shares of SOS Limited for Crypto Mining Exposure. Based on its share count, SOS has a market capitalization of around $560 million at today’s prices (around $3.10 per share). Appears to be following RIOT and MARA in movement. On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. With a membership base of about 20 million in China, SOS is an “emerging blockchain-based and big data-driven marketing and solution provider,” which recently expanded its services into crypto mining, security, and insurance. I’ve issued a warning on SOS stock in the past. 2021 InvestorPlace Media, LLC. Remember, DO NOT BUY CALLS. Some of these are more general, and apply to all crypto mining plays.