Is Sos Ltd (NYSE:SOS) Stock a Good Buy Or Sell After The Recent Move?
3:24 pm Thursday, July 22nd, 2021
Due to the remarkable rally in Bitcoin and other cryptocurrencies earlier this year, many investors had become interested in the stocks of companies that are involved in the cryptocurrency mining space. Many of those crypto mining stocks managed to record considerable gains earlier this year due to that factor and one of those was that of Sos Ltd (NYSE:SOS).
However, investors who might be interested in the stock need to realize that experts now believe that it is hard to figure out what the company actually does and much of that is due to the opaque way in which the company operates. For instance, SOS recently revamped its website but even now there is not a lot of information available about its business.
While the quarterly results may be available, investors are going to be disappointed if they looked into the investor relations page on the website. While it is true that the company does have cryptocurrency mining operations and hence, benefit from the wave of interest in such stocks, it should be noted that SOS seems to be involved in many other businesses according to its website.
The information about the involved in a range of other businesses is new information and became available after the website was reconstructed. In this regard, it should be noted that earlier on this year, the short-selling firm Hindenburg Research had made scathing allegations about the company. The company refuted those claims but nothing else happened after that. It is a stock that investors could actually avoid at this point due to the opaqueness of the company.
