SOS Ltd (NYSE: SOS) has seen considerable interest from investors because of its connection to crypto mining. The company recently upgraded its website, but that has done less to inspire confidence in the stock. In the crypto and blockchain, the sect where SOS operates, transparency is vital, and the primary appeal of crypto, defi, and blockchain is information decentralization.
Unfortunately, SOS falls short when it comes to transparency, and despite upgrading its website to appeal to investors, there are still underlying challenges. For example, although you can navigate to SOS’s investor relations section and find quarterly results, you can establish little from the page.
The company has been facing issues related to compliance as it was unable to meet SEC filing requirements. When you look at what the firm does, you cannot ascertain despite being pooled together with crypto miners such as RIOT Blockchain (NASDAQ:RIOT). According to its website, the company conducts crypto mining, and the upgraded version also shows other new businesses. SOS seems to be facing problems, and thus, investors should be cautious with the stock in the coming weeks.
Market Reaction:
On Tuesday, SOS stock fell 2.15% at $3.18 with more than 12.11 million shares, compared to its average volume of 16.03 million shares. The stock has moved within a range of $3.1100 – 3.2900 after opening the trade at $3.21.
