There are other concerns at play as well. Even with recent volatility, I remain a long-term bull on crypto. By industry specific, I mean risk inherent with any sort of Bitcoin mining company. With most of its costs fixed, an increase in prices results in much more of the increase falling straight to the bottom line. Intercoastal / Hudson Bay / Anson / Maxim Group are all working together to steal your money. SOS stock is unloved by the market despite the company's strong revenue growth. 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). Considering its … 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). Press question mark to learn the rest of the keyboard shortcuts. Recently, SOS has been entering the growing cryptocurrency market with its own crypto mining operation and blockchain offering. 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 … 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. 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. 190. Some of these are more general, and apply to all crypto mining plays. The company announced earlier this month that it had received 5,000 mining rigs five days ahead of schedule. 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. SOS is a Chinese tech company that provides a wide range of services. 1 day ago; See More Cryptocurrencies. 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. The reason? How Far Can Cardano (ADA) Rise? 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. This is situated in the Leibodong Hydropower Station in Hejiang County, China. SOS is a Chinese tech company that provides a wide range of services. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 10, 2021, 11:48 AM . Remember, DO NOT BUY CALLS. 1.5k. Copyright © Yet, don’t take that to mean I’ve changed my mind about SOS Limited (NYSE:SOS) stock. Share on Facebook Share on Twitter. SHARES. As Bitcoin (CCC:BTC-USD) prices have remained strong, so have the prices of crypto mining plays like SOS Ltd. (NYSE: SOS). New up and comer in the crypto mining game. Second, is the fact crypto mining isn’t a license to print money. SOS Limited received 575 ETH mining rigs on May 7 and is reportedly preparing to install them in the near future. SOS stock and crypto. 32. Recent remarks from Elon Musk may be the cause. They have done so 4 weeks in a row. It’s too early to tell whether the aforementioned crypto selloff will continue. DD. WhatsApp. Even if Bitcoin bounces back. I was concerned that the sentiment had recently turned ugly and it wasn’t the right time to jump into SOS stock. But as they say, better late than never. Source: Mark Agnor / Shutterstock.com Since that time, the share price has […] 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. At least 9 shot, 2 dead in separate shootings in Virginia Beach. As of this writing, cryptocurrencies are selling off. 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. Now, however, there’s fiscal data that could signal a turnaround. 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 … Even as fading interest in cryptos mining plays, along with BTC’s recent performance, have knocked down this stock substantially. And believe me, not everyone likes this company. Indiana Gov. Or if it’s merely a case of short-term volatility. Crypto mining and blockchain participant SOS Restricted (NYSE: SOS) has been having a busy couple of weeks. As of this writing, cryptocurrencies are selling off. On the flipside, though, is that falling prices make a larger impact (in a bad way) on profitability. There’s been a lot going on with this name. VIEWS. Bitcoin’s … 31 March 2021. in Bitcoin Mining, More Bitcoin. I’ve issued a warning on SOS stock in the past. The Best ‘Green Coins’ to Buy. Crypto prices can be a double-edged sword for mining plays like this one. Even with recent volatility, I remain a long-term bull on crypto. Source: Mark Agnor / Shutterstock.com Back in March, I made the case […] Copyright © 2021 InvestorPlace Media, LLC. By the end of February, the shares were approaching into penny-stock territory. The InvestorPlace Research Staff member primarily responsible for this article held a position in Bitcoin. 0. 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 … Yet, that doesn’t make a great opportunity. That’s some serious mining power, and if this is only Phase I, then the stakeholders should prepare for bigger and better things. SOS stock and crypto. 0. I remain bullish on crypto despite the recent selloff, but that bullishness doesn't extend to still-dodgy SOS stock. So, what about company-specific risks? DD. 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: Why Crypto Mining Play SOS Is on the Move Today Sarah Smith 3/1/2021. Chinese language blockchain companies firm SOS Restricted (NYSE:SOS) has been one of many best-performing crypto mining shares out there. SOS Stock Can Become A Long-term Crypto mining Play. First, of course, is the possible outsized losses from falling crypto prices, countering any outsized windfalls from rising prices. Bitcoin’s continued strength may save the day for SOS in the near-term. Admittedly, it took a long time for SOS Limited to release its full-year 2020 fiscal data. 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. 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. How You Could Double Your Money at Least 6 TIMES This Year. Therefore, investors should always keep an eye out for developments in the world of crypto and the blockchain. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. InvestorPlace - Stock Market News, Stock Advice & … News Bureau - 03/12/2021. SOS stock has seen a nice boost in the last week after the company announced its intent to establish a digital asset exchange. That is, while this alternative asset class has big long-term potential, this dodgy stock was clearly a name to stay away from. Let me know your thoughts on SOS Stock and all the rumors.Logically Answered video: https://youtu.be/XzD3GzOsFT0 Discord: https://discord.gg/v5R9jH4 … Gradually Accumulate Shares of SOS Limited for Crypto Mining Exposure. Recent remarks from Elon Musk may be the cause. Article printed from InvestorPlace Media, https://investorplace.com/2021/05/gradually-accumulate-shares-of-sos-stock-for-crypto-mining-exposure/. Matthew McCall left Wall Street to actually help investors — by getting them into the world’s biggest, most revolutionary trends BEFORE anyone else. All rights reserved. If underlying prices go up, stocks like this one go up even higher. Chinese blockchain services company SOS Limited (NYSE:SOS) has been one of the best-performing crypto mining stocks in the market. There were no signs of a recovery, at least in terms of the price action. Once those rigs are installed and operational, SOS Limited expects to obtain around 400 gigahertz of ETH hash power. SOS inventory is up a wholesome 104% prior to now three … Pinterest. Sure, short sellers have an objective. 54. However, the company is quickly moving away from its meme stock tag with investments in the crypto mining business. Log In Sign Up. They have done so 4 weeks in a row. They just got their mining … Press J to jump to the feed. VIEWS. New up and comer in the crypto mining game. 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. Remember, DO NOT BUY CALLS. But its valuation still doesn’t make much sense. SOS stock is up a … This suggests a mismatch between financials and sentiment — and therefore a possible buying opportunity. Posted by 1 month ago. 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. On top of overall concerns about crypto mining plays, SOS stock comes with a grab-bag of its own issues. --SOS Limited today announced its crypto mining plan. Copyright © 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 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 buying SOS stock as a contrarian play would only make sense if there were reasons to like the company. On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. 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. But, no matter the future direction of Bitcoin, this stock is still in trouble. 1125 N. Charles St, Baltimore, MD 21201. quotes delayed at least 15 minutes, all others at least 20 minutes. 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.