SOS Stock Price Increases Over 35% Pre-Market: Why It Happened

By Amit Chowdhry ● Feb 16, 2021
  • The stock price of Sos Ltd (NYSE: SOS) is trading at over 35% pre-market. This is why it happened.

The stock price of Sos Ltd (NYSE: SOS) – a blockchain-based and big data-driven marketing and solution provider – is trading at over 35% pre-market. Investors appear to be responding to a viral video about TV personality and Shark Tank investor Kevin O’Leary (known as “Mr. Wonderful”) endorsing the company.

You can see the video being discussed below:

However, it was quickly pointed out that this video endorsement is suspicious as you can pay Mr. Wonderful $1,200 to say almost anything you want in a video via Cameo. And there are no other clips of O’Leary endorsing Sos as a company as well.

It is unclear who potentially paid Mr. Wonderful the $1,200 to endorse Sos, but the viewpoints expressed in these viewpoints appear to contradict his stance on why he would not invest in Bitcoin.

If it is true that the video was facilitated by Cameo, then it would not be the first time that the celebrity video service was utilized for endorsing a public company. Carole Baskin of the Netflix hit show “Tiger King” was previously hired to endorse Zomedica and that drove the stock price up as well.

Another reason why the stock price is trading higher is due to a recent announcement from the company that it has received an initial shipment of 5,000 mining rigs ahead of schedule on February 9, 2021, which is 5 days earlier than the delivery date set by the purchase agreement with the seller.

These rigs can generate about BTC Hash Power 175P and ETH Hash Power 350G. And if the machine operates as expected, the annual ROI (return on investment) is projected to be significant based on the current crypto price momentum. The seller had also confirmed that they have enough inventories of crypto mining rigs and that they can fulfill the next two batches of shipments as scheduled.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.