32. Second, is the fact crypto mining isn’t a license to print money. Let me know your thoughts on SOS Stock and all the rumors.Logically Answered video: https://youtu.be/XzD3GzOsFT0 Discord: https://discord.gg/v5R9jH4 Indiana Gov. 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. The company announced earlier this month that it had received 5,000 mining rigs five days ahead of schedule. Posted by 1 month ago. David Moadel, InvestorPlace. Therefore, the sentiment is still quite negative — but maybe it’s so negative that contrarian investors should start to get interested. Recent remarks from Elon Musk may be the cause. But buying SOS stock as a contrarian play would only make sense if there were reasons to like the company. Press releases from the corporate have lined a whole lot of new enterprise … All rights reserved. I remain bullish on crypto despite the recent selloff, but that bullishness doesn't extend to still-dodgy SOS stock. Recent remarks from Elon Musk may be the cause. Even with recent volatility, I remain a long-term bull on crypto. SOS stock is up a … 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. 2021 InvestorPlace Media, LLC. 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. Even as fading interest in cryptos mining plays, along with BTC’s recent performance, have knocked down this stock substantially. On the date of publication, Matt McCall held a position in Bitcoin. There were no signs of a recovery, at least in terms of the price action. I was concerned that the sentiment had recently turned ugly and it wasn’t the right time to jump into SOS stock. Crypto mining and blockchain participant SOS Restricted (NYSE: SOS) has been having a busy couple of weeks. 0. 1125 N. Charles St, Baltimore, MD 21201. 54. I’ve issued a warning on SOS stock in the past. SOS Limited received 575 ETH mining rigs on May 7 and is reportedly preparing to install them in the near future. Intercoastal / Hudson Bay / Anson / Maxim Group are all working together to steal your money. Or if it’s merely a case of short-term volatility. Bitcoin’s continued strength may save the day for SOS in the near-term. That is, while this alternative asset class has big long-term potential, this dodgy stock was clearly a name to stay away from. 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. But whether major cryptocurrencies recover or not, SOS Limited has more room to fall. Twitter. The InvestorPlace Research Staff member primarily responsible for this article held a position in Bitcoin. SOS stock is up a healthy 104% in the past three months, on the back of elevated short interest in the security. Sure, short sellers have an objective. However, the company is quickly moving away from its meme stock tag with investments in the crypto mining business. In turn, rising difficulty rates means miners like this one will likely end up mining fewer coins than previously projected. Even if Bitcoin bounces back. By industry specific, I mean risk inherent with any sort of Bitcoin mining company. SOS stock has seen a nice boost in the last week after the company announced its intent to establish a digital asset exchange. Based on its share count, SOS has a market capitalization of around $560 million at today’s prices (around $3.10 per share). VIEWS. A crypto crash is underway with several of the most popular cryptocurrencies taking a beating. 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. May. Crypto prices can be a double-edged sword for mining plays like this one. New up and comer in the crypto mining game. New up and comer in the crypto mining game. 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. And yet, the share price keeps on going down. Once those rigs are installed and operational, SOS Limited expects to obtain around 400 gigahertz of ETH hash power. 1 day ago; See More Cryptocurrencies. And believe me, not everyone likes this company. With most of its costs fixed, an increase in prices results in much more of the increase falling straight to the bottom line. There’s the “difficulty rate” factor as well. The negative sentiment could persist for a while, so please keep your stock positions small if you choose to invest. As of this writing, cryptocurrencies are selling off. On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. Recently, SOS has been entering the growing cryptocurrency market with its own crypto … On top of overall concerns about crypto mining plays, SOS stock comes with a grab-bag of its own issues. 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The Company plans to have him lead a team to come up with a detailed plan of setting up a series of cloud crypto … Close. They have done so 4 weeks in a row. Even with recent volatility, I remain a long-term bull on crypto. Some of these are more general, and apply to all crypto mining plays. Chinese blockchain services company SOS Limited (NYSE:SOS) has been one of the best-performing crypto mining stocks in the market. Nasdaq You can split the risks with this stock into two categories: industry specific and company specific. Chinese language blockchain companies firm SOS Restricted (NYSE:SOS) has been one of many best-performing crypto mining shares out there. InvestorPlace - Stock Market News, Stock Advice & … By. The hedge funds selling you the calls have over $60,000,000 in stock in SOS and will make sure the calls expire worthless. 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). They have done so 4 weeks in a row. All rights reserved. Yet, don’t take that to mean I’ve changed my mind about SOS Limited (NYSE:SOS) stock. Google+. SOS stock … Facebook. Others are company-specific. At least 9 shot, 2 dead in separate shootings in Virginia Beach. Article printed from InvestorPlace Media, https://investorplace.com/moneywire/2021/05/avoid-sos-stock-even-if-crypto-bounces-back/. Admittedly, it took a long time for SOS Limited to release its full-year 2020 fiscal data. 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. Share on Facebook Share on Twitter. Only time will tell whether Bitcoin mining companies at large can live up to expectations. 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). 1.5k. DD. 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. Copyright © 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. How You Could Double Your Money at Least 6 TIMES This Year. expert 3 Artificial Intelligence Stocks Leading the New Wave. Between a rich valuation, and the red flags surrounding it, this remains a name to avoid. Remember, DO NOT BUY CALLS. 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. Press question mark to learn the rest of the keyboard shortcuts. Even with recent volatility, I remain a long-term bull on crypto. quotes delayed at least 15 minutes, all others at least 20 minutes. Now, however, there’s fiscal data that could signal a turnaround. But, no matter the future direction of Bitcoin, this stock is still in trouble. SOS shares are currently trading at $3.31 after closing on Wednesday at $1.72. I do a stock analysis on SOS Limited or SOS Stock. 190. However, it’s the cryptocurrency mining business that may be the most crucial to the company. 1125 N. Charles St, Baltimore, MD 21201. SOS is a Chinese tech company that provides a wide range of services. As of this writing, cryptocurrencies are selling off. Bitcoin’s … 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. SOS stock is unloved by the market despite the company's strong revenue growth. 0. SOS is a Chinese tech company that recently entered the burgeoning cryptocurrency market with its own mining operation and blockchain offering. 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. 1125 N. Charles St, Baltimore, MD 21201. 189. Compared to its 2020 revenues (around $49.5 million), that’s an insane valuation. Source: Mark Agnor / … For starters, shares may have fallen 35% in the past month, and around 80% off their highs. SOS stock is up a healthy 104% in the past three months, on the back of … As Bitcoin (CCC:BTC-USD) prices have remained strong, so have the prices of crypto mining plays like SOS Ltd. (NYSE: SOS). Remember, DO NOT BUY CALLS. It’s too early to tell whether the aforementioned crypto selloff will continue. VIEWS. As of May 7, SOS stock had fallen to $3.91. 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. 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. As of May 7, SOS stock … Either way, as the bullishness for this stock among speculators has long since dissipated, these issues will add more downward pressure on the stock. The important thing is that the results are in, and they’re quite impressive. Now, if crypto prices bounce back, we may see less dramatic day-to-day price declines for SOS stock. Unfortunately, that bull run didn’t last very long. SOS is a Chinese tech company that provides a wide range of services. SOS Stock Can Become A Long-term Crypto mining Play. I was concerned that the sentiment had recently turned ugly and it wasn’t the right time to jump into SOS stock. Share on Facebook Share on Twitter. The hedge funds selling you the calls have over $60,000,000 in stock in SOS and will make sure the calls expire worthless. SHARES. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. 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. I remain bullish on crypto despite the recent selloff, but that bullishness doesn't extend to still-dodgy SOS stock By Matt McCall and the InvestorPlace Research Staff, Editor, MoneyWire May … Gradually Accumulate Shares of SOS Limited for Crypto Mining Exposure. Flash forward two months, and that remains to be the case. 10, 2021, 11:48 AM . This just goes to show that the stock is likely to follow cryptocurrency prices. First, of course, is the possible outsized losses from falling crypto prices, countering any outsized windfalls from rising prices. With his next-generation approach to investing, Matt McCall finds better stocks for you to invest in — not the same old companies over-hyped on Wall Street. quotes delayed at least 15 minutes, all others at least 20 minutes. 31 March 2021. in Bitcoin Mining, More Bitcoin. Article printed from InvestorPlace Media, https://investorplace.com/2021/05/gradually-accumulate-shares-of-sos-stock-for-crypto-mining-exposure/. 2021 InvestorPlace Media, LLC. There are other concerns at play as well. Since that time, the share price has declined sharply. SHARES. This suggests a mismatch between financials and sentiment — and therefore a possible buying opportunity. They just got their mining … Press J to jump to the feed. But its valuation still doesn’t make much sense. 3 Big Stories to Catch Up On. Click here to see what Matt has up his sleeve now. On top of overall concerns about crypto mining plays, SOS stock comes with a grab-bag of its own issues. March 27, 2021 at 1:17 p.m. 17, 2021, riot blockchain and marathon digital were up over 6,000% and 5,000%, respectively. by admin. 14 April 2021. in Bitcoin Mining, More Bitcoin. So, what about company-specific risks? Copyright © Crypto Mining Stocks Are Risky, but SOS Stock Takes the Cake. 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. That is, over time, it takes greater and greater computing power to “mine” for Bitcoin. But if we focus on the company’s financials, there is encouraging news to be found. News Bureau - 03/12/2021. This is situated in the Leibodong Hydropower Station in Hejiang County, China. Source: Mark Agnor / Shutterstock.com Back in March, I made the case […] The reason? All rights reserved. By the end of February, the shares were approaching into penny-stock territory. DD. Therefore, investors should always keep an eye out for developments in the world of crypto and the blockchain. Recently, SOS has been entering the growing cryptocurrency market with its own crypto mining operation and blockchain offering. In fact, the company just recently completed what it calls “Phase I” of the completion of its Leibodong Mine. Nasdaq Recent remarks from Elon Musk may be the cause. Yet, that doesn’t make a great opportunity. --SOS Limited today announced its crypto mining plan. Copyright © 2021 InvestorPlace Media, LLC. On the flipside, though, is that falling prices make a larger impact (in a bad way) on profitability. Stocks. Some of their claims may have been overblown. SOS stock and crypto. SOS Stock: Why Crypto Mining Play SOS Is on the Move Today Sarah Smith 3/1/2021. SOS stock popped last month but now is down more than 50% off its all-time highs, and that might not even be … The shareholders should be glad to know that SOS Limited is progressing quickly in building out its collection of crypto-mining equipment. How so? Intercoastal / Hudson Bay / Anson / Maxim Group are all working together to steal your money. All rights reserved. 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 as they say, better late than never. SOS inventory is up a wholesome 104% prior to now three … by admin. If underlying prices go up, stocks like this one go up even higher. 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, Don’t 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. 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. Source: Mark Agnor / Shutterstock.com Since that time, the share price has […] With other concerns at hand, not just underlying crypto price, the best move continues to be, “stay away.”. SOS stock and crypto. Appears to be following RIOT and MARA in movement. That being said, it’s still wise to proceed with caution. 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 … 1125 N. Charles St, Baltimore, MD 21201. The Best ‘Green Coins’ to Buy. What Did the Stock Market Do Today? Copyright © 2021 InvestorPlace Media, LLC. That’s some serious mining power, and if this is only Phase I, then the stakeholders should prepare for bigger and better things. … A surge in investor interest related to the spike in cryptocurrency … 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. 1.5k. 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. WhatsApp. 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. Yet, don’t take that to mean I’ve changed my mind about SOS Limited (NYSE:SOS) stock. SOS Limited has multiple business segments. Log In Sign Up. As of this writing, cryptocurrencies are selling off. The U.S. Securities and Exchange Commission defines a penny stock as a stock with a market share under $250 million or $300 million. I do my stock prediction on this crypto penny stock and tell you is it worth buying sos stock. The U.S. Securities and Exchange Commission defines a penny stock as a stock with a market share under $250 million or $300 million. But, valuation is not the only issue at hand. 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. 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. Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. 54. Considering its …