Is Now the Time to Bet on SOS Stock?

Oh boy, crypto miners.

Companies like SOS Limited (SOS) have been on a rocky ride of late, to say the least. Since hitting a high of nearly $16 per share earlier this year during the initial meme stock rally, shares of SOS stock have been on a downward trajectory. Currently, SOS stock trades at around $3 per share, at the time of writing.

There are good reasons for this, and those will be described below. However, the real focus with SOS stock right now, at least among retail investors, is the company’s newfound focus on crypto mining.

With the prices of both Bitcoin and Ether plummeting in recent weeks, the outlook for SOS hasn’t been great. However, even prior to this volatility in cryptocurrency markets, SOS was on the decline. (See SOS stock chart on TipRanks)

Let’s take a look at some of the catalysts of this stock, and what’s driving the volatility in SOS right now.