SOS is trying to tell a broader story about becoming a blockchain and crypto leader in China. Bitcoin mania has fuelled a surge in fundraising by Chinese companies seeking to expand their cryptocurrency operations or move into the red-hot sector. The Tuesday morning press release by SOS announces the company’s intent to offer 25 million American Depositary Shares at $5 a share. SOS Limited is a recent entrant into the cryptocurrency space. The company is offering more of its stock as warrants. That would remove the company-specific risks associated with holding a Bitcoin mining firm. SOS posted news releases to rebuke the bearish claims. All rights reserved. Nachrichten zur Aktie China Rapid Finance Ltd (spons. It can now process an average of 353 penta-hashes per second (PH/s) of Bitcoin. Miners were also explosive over the same time frame. Is SOS a good bitcoin mining stock? The Ronghe joint venture carries with it a significant financial burden for SOS. SOS is a Chinese tech company that provides a wide range of services. At the time, the Bitcoin was worth CAD 186 million. LOS ANGELES–(GESCHÄFTSDRAHT) – Die Anwaltskanzlei von Frank R. Cruz gibt bekannt, dass eine Sammelklage im Namen von Personen und Organisationen eingereicht wurde, die SOS Limited („SOS“ oder das „Unternehmen“) (NYSE: SOS) American Depositary gekauft oder anderweitig erworben haben Aktien (“ADSs” oder “Aktien”) zwischen 22. It can now process an average of 353 penta-hashes per second (PH/s) of Bitcoin. Luckin Coffee (OTCMKTS:LKNCY) filed for bankruptcy in February. Today, HUTMF stock is up sharply, thanks to the surge in the value of Bitcoin. SOS has put together a cloud emergency rescue service product, in the form of a SAAS (Software-as-a-service) platform. What Is the COIN Stock IPO Price Range? ... Research … Hut 8 Mining (OTCMKTS:HUTMF) reportedly mined 3,012 Bitcoins as of Feb. 17. SOS could not be immediately reached for comment outside business hours in China. Dogecoin Price Predictions: Will DOGE Trade for Pennies or Dollars in 2021? SOS Limited is a tech company based out of China with a focus on emergency services. License. Bitcoin traded 3% higher at $49,114 at press time. The short seller said that: We are short $SOS, which we believe to be an obvious China-based shell game reanimating the corpse of a former China-based company that earlier imploded 90% from its highs. QINGDAO, China, March 30, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the "Company" or "SOS"), an emerging blockchain-based and big data-driven marketing solution provider, announced today that it has... 5 days ago - PRNewsWire. Investors cannot rely on Hindenburg’s research. The piling expenses are driving the company to announce a new public offering on SOS stock. Real-time trade and investing ideas on SOS Limited - ADR SOS from the largest community of traders and investors. QINGDAO, China, March 15, 2021 /PRNewswire/ -- SOS Limited (NYSE: SOS) (the “Company” or “SOS”) announced today that it has successfully installed its second fleet of 5,000 cryptocurrency mining rigs. Riot can earn $347M or so in mining revenue in 2022 at current bitcoin price so about 5x from current. Article printed from InvestorPlace Media, https://investorplace.com/2021/03/why-sos-stock-is-too-risky-a-bitcoin-play-to-handle/. So, what does SOS have to offer? Short sellers betting against SOS stock despite more hardware rigs. According to simplywall.st, SOS fails on almost every metric. SOS shares have nearly doubled in value this year since it outlined plans to invest in cryptocurrency on Jan. 13, benefiting from a rise in institutional support for bitcoin and other digital assets. by Shivdeep Dhaliwal. Assuming it faces no downtime or hardware failures, the output is easily achievable. Before it pivoted to crypto mining, China-based SOS was in the online lending business, with a model similar to LendingClub's. Is SOS a good bitcoin mining stock? SOS is an emerging blockchain-based and big data-driven marketing and solution provider, with a nationwide membership base of approximately 20 million in China… As a result, many investors are selling off shares, driving the price down by 15% this morning. “Stocks tied to blockchain have been on the … Bitcoin and most alternative coins are not the only crypto-related gainers during the ongoing bull cycle. Show full articles without "Continue Reading" button for {0} hours. SOS is just one of many companies based in China that have hopped on the Bitcoin bandwagon and dedicated its entire enterprise to mining the cryptocurrency. The offering intends to finance the further development of the company’s crypto mining network. ... Hope you aren't short,when Bitcoin … Sos Ltd. (NYSE:SOS), another China-based company that has posted stellar gains this year as a cryptocurrency play, continues to extend gains, up 30% in the pre-market session at $15.40. Coinbase IPO: When Does Coinbase Go Public? Seite 25 der Diskussion 'SOS Limited - Plattform für Finanzdienstleistungen' vom 25.10.2020 im w:o-Forum 'Asien'. SOS, formerly a consumer-lending company called China Rapid Finance, could not be immediately reached for comment outside business hours in China. SOS Limited - ADR NYSE Updated Apr 1, 2021 11:59 PM. For example, on Jan. 21, 2021, SOS claimed to have purchased over … Trending now. Setting up 15,000 in expected rigs would turn SOS into the biggest crypto miner. This bill mounds on top of the other expenses the company is undertaking through its shift to crypto. Disclosure: On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. Some call the firm run by criminals, accused of collusion. Last month, China gave its digital yuan a test drive in Suzhou. SOS plans to invest heavily in the crypto mining business to take advantage of the growing investors’ realization of the values and potentials of … Hindenburg has a good track record on its bearish bets. On Feb. 24, SOS announced a “big data star enterprise” award by Gui’an New District Government. Sos Ltd (NYSE: SOS ), which saw a significant surge over the last week as well, traded 16.9% higher at $8.70 in … Bitcoin (CRYPTO: BTC) retouched the ... Sos Ltd (NYSE:SOS): Based out of China, this emergency rescue services company also uses blockchain technologies to provide marketing and … From high volatility risks to valuations, its future growth prospects are not great, either. Sos Ltd. (NYSE:SOS), another China-based company that has posted stellar gains this year as a cryptocurrency play, continues to extend gains, up … March 1, 2021 9:57 pm. The price developments have pushed numerous industry companies to see stock increases, including Chinese mining firm SOS Limited, which also received an endorsement from Shark Tank’s Kevin O’Leary. SOS Limited (NYSE:SOS) stock is up more than 70% in intraday trading with no specific catalyst to speak of. SOS Ltd. is a China-based company with an ADS listed on the NYSE. Better yet, cryptocurrency investors could hold the underlying asset instead. The company's chances for success are bolstered by highly accomplished Wall Street veterans combined with top Chinese talent. Sign Up. See also: How to Buy Stocks. quotes delayed at least 15 minutes, all others at least 20 minutes. The announcement hasn’t gone over too well with SOS shareholders. SOS Limited, headquartered in Qingdao, China, is a ‘high-technology’ company that provides a wide offering for Emergency Rescue Services by leveraging Big Data, Cloud Computing, IOT (Internet of Things), Blockchain, and AI (Artificial Intelligence). Like us on Facebook to see similar stories, Biden to unveil 6 executive actions to curb gun violence, Lockdown walkers urged to avoid farmers' fields. DOW 0.00%. Update March 15: Shares in SOS surged by over 20% on Monday to $7.95 as SOS announced it had installed an extra 5,000 pieces of crypto mining rigs. SOS's principal executive office is located at Room 8888, Jiudingfeng Building, 888 Changbaishan Road, Qingdao Area, China (Shandong) Pilot Free Trade Zone, People’s Republic of China (stated in SEC filings). If you attempt to find it on Google Maps, you won't be able to find much about it. Nasdaq These warrants come in the shape of American Depositary Receipts (ARDs) are the ones available for trading in the US, and investors recently came under the pressure of selling these ADRs … Is SOS Limited’s (SOS) recent Bitcoin mining spree … SOS sees strong retail investor interest as Bitcoin remains bid! Between Oct. 1 and today, Bitcoin ran from $10,626 to $56,072. Many current owners of SOS stock fear dilution resulting from the offering. SOS, formerly a consumer-lending company called China Rapid Finance, could not be immediately reached for comment outside business hours in China. With control of over 51% of the bitcoin or Ethereum network, China could direct miners to enter malicious blocks onto the chain, ban certain payments, … 3 Big Stories to Catch Up On. It was not long ago that SOS Limited (NYSE:SOS) mined its first Bitcoin (CCC:BTC-USD) on Feb. 24. The experiment lasted roughly 10 days, but stands as a testament to China’s interest in crypto beyond the Bitcoin phenomenon. This has it offering its cloud and marketing services to several members of …
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