- The stock price of Sos Ltd (NYSE: SOS) increased by over 4% pre-market. This is why it happened.
The stock price of Sos Ltd (NYSE: SOS) increased by over 4% pre-market. There is not any company-specific news driving the stock price up so it appears there are external factors at play.
Investors in stock trading platforms are citing the momentum in cryptocurrencies as being the driving force for the stock price increase. The price of the Bitcoin cryptocurrency is up more than 9% over the past week. And Ethereum is up more than 12% over the past week.
SOS is known as an emerging marketing and solution provider based on blockchain and big data. The company has about 20 million members in China. SOS has outlined its strategy in blockchain and cryptocurrency, including a series of measures to expand its business to cryptocurrency mining and cryptocurrency security and insurance. And the core infrastructure of SOS’ marketing data, technology and solutions to insurance and emergency rescue services is built on big data, blockchain-based technology, cloud computing, AI, satellite, and 5G network, etc.
SOS has also created a cloud “software as a service (SaaS)” platform for emergency rescue services with 3 major product categories: basic cloud, cooperative cloud, and information cloud. And this system provides innovative marketing solutions to clients like insurance companies, financial institutions, medical institutions, healthcare providers, auto manufacturers, and other service providers in the emergency rescue services industry.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.