SOS Limited (SOS) was up 9.34% to $2.81 at the time of the last check in after-hours trading. The SOS stock closed Friday at $2.57, a decrease of -1.15% or $0.03. On the day, SOS shares fluctuated between $2.51 and $2.63. SOS stock exchanged 7.54 million shares, less than its average daily volume for the past 50 days of 15.54 million and below its Year to Date volume of 41.93 million. SOS stock has dropped -6.20% over the past year but has risen 3.63% over the last week.
Over the last six months, SOS stock has decreased by -15.46%, and over the last three months, the stock has dropped by -389.5%. Since the beginning of the year, SOS shares have returned 73.65%. Additionally, SOS stock trades at a price-to-earnings ratio of 25.70. Because the SOS stock rose without any current information, we can now look at recent developments to gain a deeper insight into SOS.
Did things go well at SOS stock recently?
Based on big data and blockchain technology, SOS is an emerging marketing company. Around 20 million people are members of SOS in China. As of July 2020, SOS holds its headquarters in Qingdao West Coast new area. Earlier this year, SOS announced its strategy to expand its business into cryptocurrencies, cryptocurrency mining, cryptocurrency insurance and digital asset exchange. Using big data, blockchain technology, cloud computing, artificial intelligence, satellites, and 5G networks as the foundation; SOS provides insurance and emergency services.
“Software-as-a-Service (SaaS)” platform from SOS provides emergency rescue services, including three major categories: basic cloud, cooperative cloud, and information cloud. It was developed to provide innovative marketing solutions to companies such as insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, security companies, senior living companies, and other companies involved in the emergency rescue services industry.
An agreement has recently been signed by SOS Limited and Niagara Development LLC (Niagara Development), a New Jersey limited liability company, to create a joint venture based in Niagara, Wisconsin. FD LLC, the JV, is expected to develop a Digital Super Computing Custody Operations Center and engage in cryptocurrency mining operations.
In order to meet the requirements of the agreement, Niagara Development will be responsible for generating up to 150MW of power and building the Digital Super Computing Custody Operations Center. Management, operations, and financing will be handled by SOS. SOS is dedicated to its blockchain strategy and aims to be an industry leader in sustainability.
New SOS strategy for business operations:
SOS Limited (SOS) began moving its bitcoin mining operations to the US as a reaction to changes in Chinese laws and regulations. Approximately 90% of SOS’ China operations remain unaffected and operational, including its insurance and call center operations as well as its ethereum mining operations.
