SOS Stock Price: Sos Ltd drops lower as markets tumble to close the week
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- NYSE:SOS fell by 6.11% during Friday’s trading session.
- Bitcoin drops back below $40,000 as investors go risk-off.
- Institutions are still piling into Bitcoin mining as a new fund is started by Anthony Scaramucci.
NYSE:SOS saw its recent slide continue alongside a broader market meltdown to close out yet another losing week. On Friday, shares of SOS plummeted by 6.11% and closed the tumultuous trading week at $0.41. The closing price on Friday represents an all-time low for the Chinese crypto-miner, which was once a popular play on the Bitcoin market as recently as last year. The bearishness continued on Friday as the markets extended their recent declines. The Dow Jones sank by 981 basis points for its single worst performance since 2020. While the S&P 500 and NASDAQ fell by 2.77% and 2.55% respectively during the session.
Stay up to speed with hot stocks' news!
Equities were not the only markets under water as the crypto markets continued to trade in sympathy to the S&P 500. Bitcoin and Ethereum have both fallen below the key price levels of $40,000 and $3,000 respectively as of Friday afternoon, as both blue-chip crypto markets are now in the red for the week. As investors continue to move to a risk-off environment, we could see the same downward selling pressure in cryptocurrencies that we have seen in global stock markets as of late.
SOS stock forecast
Former Donald Trump-aide, Anthony Scaramucci, has started a new fund for Bitcoin mining through his investment fund, SkyBridge Capital. So far the fund has raised $7 million and has already invested in Bitcoin miner, Genesis Digital Assets. Some other mining companies that SkyBridge has invested in include Marathon Digital Holdings (NASDAQ:MARA) and Riot Blockchain (NASDAQ:RIOT).
- NYSE:SOS fell by 6.11% during Friday’s trading session.
- Bitcoin drops back below $40,000 as investors go risk-off.
- Institutions are still piling into Bitcoin mining as a new fund is started by Anthony Scaramucci.
NYSE:SOS saw its recent slide continue alongside a broader market meltdown to close out yet another losing week. On Friday, shares of SOS plummeted by 6.11% and closed the tumultuous trading week at $0.41. The closing price on Friday represents an all-time low for the Chinese crypto-miner, which was once a popular play on the Bitcoin market as recently as last year. The bearishness continued on Friday as the markets extended their recent declines. The Dow Jones sank by 981 basis points for its single worst performance since 2020. While the S&P 500 and NASDAQ fell by 2.77% and 2.55% respectively during the session.
Stay up to speed with hot stocks' news!
Equities were not the only markets under water as the crypto markets continued to trade in sympathy to the S&P 500. Bitcoin and Ethereum have both fallen below the key price levels of $40,000 and $3,000 respectively as of Friday afternoon, as both blue-chip crypto markets are now in the red for the week. As investors continue to move to a risk-off environment, we could see the same downward selling pressure in cryptocurrencies that we have seen in global stock markets as of late.
SOS stock forecast
Former Donald Trump-aide, Anthony Scaramucci, has started a new fund for Bitcoin mining through his investment fund, SkyBridge Capital. So far the fund has raised $7 million and has already invested in Bitcoin miner, Genesis Digital Assets. Some other mining companies that SkyBridge has invested in include Marathon Digital Holdings (NASDAQ:MARA) and Riot Blockchain (NASDAQ:RIOT).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.