Society Pass (SOPA) Stock: Why It Surged Over 40% Today

By Amit Chowdhry ● Aug 4, 2022
  • The stock price of Society Pass (SOPA) surged by over 40% during intraday trading today. This is why.

The stock price of Society Pass (SOPA) surged by over 40% during intraday trading today. Investors responded positively to the company’s Q2 2022 and H1 2022 results.

Below are the highlights:

— Second quarter of 2022 unaudited revenues grew 5,669% year on year (from $7,783 for the second quarter ended 30 June 2021 to $445,090 for the second quarter ended 30 June 2022).

— 1st half of 2022 unaudited revenues grew 5,360% year on year (from $17,289 for 1st half ended 30 June 2021 to $944,152 for 1st half ended 30 June 2022).

— With cash on hand of $28 million on 30 June 2022, SoPa is well capitalized for roll out of the Society Pass loyalty platform and continuing acquisitions of Southeast Asia (SEA) companies in lifestyle, food & beverage, digital media, and travel verticals for the rest of 2022.

— Since its inception, SoPa has onboarded 2.1 million registered consumers and over 6,700 registered merchants/brands onto its ever-expanding platform.

— SoPa launched the beta version of its Society Pass loyalty platform in 2Q 2022, which drives customer acquisition and retention for merchants across SEA.