SOS (NYSE:SOS at https://www.webull.com/quote/nyse-sos), a miner from China Bitcoin (CCC:BTC-USD), quickly appeared on several investors’ radar, including many revisers. The stock SOS has gone from $1.26 since December to open up on March 17 at $15.01. While markets were refreshed, this stock was refreshed. SOS trade is 4.99 dollars today.
The business began in 2001 and there have been many turning points since then. The primary aim was to be a credit analysis service. This led to the establishment of a credit market. However, the firm left the market in 2018 as a result of regulatory reforms in China. The team then turned to crypto mining.
SOS had extensive experience with complex IT technologies, but it had established numerous partnerships with companies involved with financial services.But does it make sense to seek a buy with the shares off their highs? Ok, I believe that investors are currently to be careful about SOS inventories.
Flags with Red
Several research reports on (NYSE: SOS),stock have been released. They’re not, regrettably, very good.Notice that Culper Research has carried out an investigation of the suspected fraud in the group. Then a more detailed Hindenburg research report was made.It is now true that these two companies sell shortly. But once again, deep analysis is established. Hey, regardless of the intrinsic dangers of a brief squeeze, such as GameStop (NYSE:GME) and AMC (NYSE:AMC).
Report from research
The analysts of the company visited SOS and it seemed to be a spa! They then concluded that the firm allegedly copied and pasted competitors’ photographs and news releases.SOS(NYSE: SOS),did deny the charges, which should not be surprising. The corporation called these allegations in a press release “distorted, false, and unfounded.”
However, there are other furious problems. The company’s announcement that 5 000 mining units will be mobilised and that there will be further offers, for example, is sceptical. In the market, though, the demand seems to be in deficit.
SOS Stock Bottom Line
The $1.5 billion bitcoin takeover of Tesla (NASDAQ:TSLA) was a major trigger for sure. However, conventional financial services companies have since adopted them more broadly. Consider that Mastercard (NYSE:MA) is planning its global network to support multiple cryptocurrencies. The next thing to do is to provide a conversion service to the bank of New York Mellon (NYSE:BK) the oldest US bank.
In the meantime, it seems like wealth managers and hedge funds are scrambling to get exposure to crypto. Some of the world’s biggest investors – including Paul Tudor Jones, Bill Miller and Stanley Druckenmiller – believe digital currency to be a good way to protect against inflation. Think of it like a modern-day variation of gold.Before investing, you can check more stocks such as nyse hyln at https://www.webull.com/quote/nyse-hyln.