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Tag: SOS

  • SOS Limited Gains Momentum With Bold Digital Asset Plan

    SOS Limited Gains Momentum With Bold Digital Asset Plan

    Following the unveiling of its new digital asset strategy, SOS Limited (NYSE: SOS) stock is on a sharp increase on the US stock charts today. As of latest market check, the stock price increased 41.01% to $9.80. This development shows that investors are becoming more confident in the company’s plans for the future.

    Investment Plan for $50 Million in Bitcoin

    The Board of Directors’ acceptance of a $50 million Bitcoin (BTC) investment served as the announcement’s main pillar. The move highlights Bitcoin’s position as a key asset and store of value and demonstrates the company’s dedication to growing its blockchain operations. As the price of Bitcoin is at an all-time high of over $93,000 per coin right now and is predicted to hit $100,000 by the end of the year, SOS’s investment aligns with market confidence.

    SOS to Use Advanced Trading Techniques

    SOS plans to use a number of quantitative trading techniques to maximize its Bitcoin purchase and lessen its exposure to market volatility. These include trading, investing, and arbitrage strategies intended to protect the company’s investment portfolio while producing consistent profits. These techniques highlight SOS’s attempts to reduce the risks associated with the erratic cryptocurrency market while also demonstrating the company’s dedication to smart financial management.

    Reinforcing Leadership in the Digital Asset Sector

    SOS’s investment in Bitcoin signifies a broader ambition to establish itself as a leader in the digital asset industry. The company views Bitcoin as pivotal to the digital ecosystem and as a potential global reserve asset. Alongside this investment, SOS plans to leverage technological innovation to deliver long-term shareholder value and enhance its competitiveness.

    Positive Market Conditions and Upcoming Opportunities

    Investor interest in digital assets has increased as a result of these characteristics, which have also improved institutional adoption. SOS anticipates that its strategic investment will capitalize on this momentum, further strengthening its profitability and position within the sector. Through its bold Bitcoin initiative, SOS Limited is not only reinforcing its faith in the digital asset market but also setting a course for sustained growth and innovation.

  • SOS Stock Bounces Back Premarket After Dip to a New Low on Registered Direct Offering

    SOS Stock Bounces Back Premarket After Dip to a New Low on Registered Direct Offering

    A dip in stock while most time bringing a good buying opportunity forward for the investors may not always be a wise choice for long-term investments. One always needs to investigate the potential and future progress of the company along with both its technicals and fundamentals. But in the case of profit booking, dips are mostly a good call.

    Currently, SOS investors are making some nice gains on the latest dip in SOS Ltd. (SOS) stock. The company announced a registered direct offering worth $20 million yesterday, March 31, 2022. Resultantly, the stock took a harsh hit in yesterday’s regular session to reach $0.5366 at the close. The stock recorded its new 52-week low in the session at $0.4490. Lighting up a good buying opportunity for investors, the dip is currently being bought as the stock is rallying by 9.32% in today’s premarket. At the last check, SOS was trading at a price of $0.5822 per share.

    Source: wise-geek

    How is SOS doing in 2022?

    Lacking portfolio diversification SOSO lost an immense value of over 88.8% last year. A stark reminder of how important portfolio diversification is, the company still lacks on the part. However, 2022 so far has been a little bit better than last year as the stock’s current year losses stand at 34.74%.

    The Offering

    The China-based data mining and analysis services provider entered into a securities purchase agreement worth $20.02 million of ADSs. The registered direct offering with certain accredited investors includes 35,750,000 ADSs at a price of $0.56 per share. The ADSs shares each represent one Class A Ordinary Share of the company. Expected to close around April 4, 2022, the offering’s net proceeds are intended for developing SOS’ North American business. Moreover, a part of the proceeds will also go into working capital and general corporate purposes.

    Additionally, SOS also announced the reduction of ADS purchase warrant exercise price to $0.56 per share, that were issued earlier. The issued warrants include those issued on February 17, 2021, February 22, 2021, March 2021, and April 2021.

    SOS’ NYSE Non-compliance

    Presently, the company is in non-compliance with NYSE trading standards due to its ADSs trading price. Hence, the company has a duration of six months since the non-compliance letter dated January 14, 2022, to regain compliance with the NYSE. If SOS failed to regain compliance with NYSE in the given grace period, NYSE will commence suspension and delisting procedures.

  • Why SOS Limited (SOS) stock could not keep its positive momentum on Monday’s after-hours?

    SOS Limited (SOS) stock price declined 7.89% in after-hours on Monday, July 26, 2021, and close the daily trading at $2.80. In the regular trading session on Monday, SOS’s stock gained 22.58%. SOS shares have risen 60.85% over the last 12 months, and they have moved up 25.10% in the past week. Over the past three months, the stock has lost 33.91%, while over the past six months, it has shed 35.71%.

    Let’s discuss SOS recent news and developments briefly.

    SOS Joint Venture agreement with Niagara Development 

    On June 21, 2021, SOS Limited entered into a joint venture agreement with Niagara Development LLC to carry out cryptocurrency mining operations and construct an international standardized Digital Super Computing Custody Operation Center.

    Niagara Development will provide up to 150MW of electricity, including electricity generated from renewable sources, and construction of the Digital Super Computing Custody Operation Center. SOS will be responsible for the management, operations, and financing of the joint venture.

    SOS has to face several Class Action Lawsuits

    Levi & Korsinsky, LLP stated on June 1, 2021, informing all persons or entities who purchased or otherwise acquired securities of SOS Limited between July 22, 2020, and February 25, 2021, notifying that a securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey.

    On May 26, 2021, The Law Offices of Vincent Wong announced that a class action lawsuit has commenced on the behalf of investors who purchased SOS stock Limited between July 22, 2020, and February 25, 2021.

    What’s the matter?

    According to the Complaints, the Company made false and misleading statements to the market regarding the Company’s business, operations, and compliance policies throughout the class period. According to the allegations, SOS used a pump and dump scheme and used fake addresses and photos of crypto miners to create an illusion of success.

    SOS rejected the claims and said that it is looking forward to vigorously defending itself, addressing these matters and providing more information in the coming days.

    SOS completed the first phase of the Leibodong Mine

    On May 7, 2021, SOS Limited announced that the first phase of the Leibodong Mine has been completed and 575 sets of ETH cryptocurrency mining rigs have been delivered.

    Recent financial results announcement

    On May 5, 2021, SOS Limited reported its audited financial results for the full year ended December 31, 2020.

    FY 2020 financial highlights

    • The company reported revenue of $50.3 million in FY 2020 compared to $37.4 million in FY 2019.
    • In FY 2020, the gross profit was $13.0 million.
    • The gross margin was 25.8% in FY 2020.
    • Operating income was $10.1 million in FY 2020.
    • It earned a net profit of $4.4 million, or $0.0135 basis per share in FY 2020 compared to a net income of $1.5 million, or $0.025 basis per share in FY 2019.
    • The company had Cash and cash equivalents of $3.7 million on December 31, 2021.

    Conclusion

    As of this writing, we have no recent news or development which could be linked with SOS stock mixed performance on Monday. It is hard to predict how it will perform in the coming days.

  • SOS Stock Dips Following Announcement of Joint Venture with Niagara Development

    SOS Stock Dips Following Announcement of Joint Venture with Niagara Development

    SOS Limited (SOS) stock prices were down by 7.30% shortly after market trading commenced on June 21st, 2021, bringing the price per share up to USD$3.36 early on in the trading day.

    Joint Venture with Niagara Development

    June 21st, 2021 saw the company announce that it had entered into a joint venture agreement with Niagara Development LLC that will be based in Niagara, Wisconsin. The joint venture FD LLC is expected to conduct crypto-currency mining operations and facilitate the construction of an international standardized Digital Super Computing Custody Operation Center.

    Specifics of the Agreement

    As per the agreement, Niagara Development will be tasked with the responsibility for the provision of 150MW of electricity and the construction of the Operation Center. The electricity to be generated will include energy generated from renewable sources. Management, operation, and financing of the joint venture is to be carried out by SOS, which is committed to its block-chain strategy and strives to become a leader of sustainability.

    Entry into American Market

    In light of the increasingly pessimistic outlook of the laws and regulations pertaining to blockchain operations in China, the company has initiated a transition of its bitcoin mining operation to the US. Most of the company’s Chinese operations are fully operational and remain unaffected as of yet. This primarily includes SOS’s insurance business, call centers, and Ethereum mining business. As the company continues to increase its development of blockchain solutions for a myriad of industries, SOS made the decision to acquire a sustainable power supply. This move comes in preparation for the expansion of the company’s blockchain operations into North America, which it has high hopes for in light of the joint venture.

    Prolific Track Record

    To date, SOS has registered a total of almost 100 software copyrights, as well as 3 patents. The company has been granted a national high-tech enterprise certification as recognition of its caliber. SOS has also been awarded the title of Big Data Star Enterprise by the Gui’an New District Government, a further indication of the company’s ability to stay at the forefront of digital technology innovation.

    Future Outlook for SOS

    Armed with its recent expansive acquisition and a bright outlook for its transition into the North American market, SOS is poised to capitalize on upcoming opportunities afforded to it. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • SOS stock is plunging in the premarket session; here’s why

    SOS stock is plunging in the premarket session; here’s why

    In the premarket trading, SOS Limited stock plunged by-5.31% to trade at $3.92. SOS stock closed last session at $4.14 which is a -3.94% loss. The company’s stock price oscillated between $4.11 and $4.50today. The share volume traded today was 23.79 million. While the average trading volume for the past 3 months has been 74.95 million. In the past 1 year, SOS stock has jumped up by 314.00%. In the past week, the shares slumped down to -8.61%. In the last three and six months, the stock has increased by 105.97% and 59.85%, respectively. The current value of SOS Limited (SOS) in the market is $773.93 million while its outstanding shares are 186.94 million.

    SOS stock is not yet free from the claims of fraud and lawsuit filings

    Just today, 23rd April 2021, Jakubowitz Law announced that it has also joined the barrage lawsuit claims against SOS by commencing securities fraud class action lawsuit on SOS for the class period 22nd July 2020- 25th February 2021.

    Similarly Pomerantz Law firm has reminded SOS shareholders (who faced losses) to take part in the lawsuit prior to the deadline of 31 May 2021. The list of reminder goes on from law offices of HAGENS BERMAN, Levi &Korsinsky, Frank R. Cruz, Vincent Wong, and others, all of whom had initiated the investigations after the Hidenburg Research tweeted about the company being allegedly involved in fraudulent activities related to claims of cryptocurrency mining operations and location of its office.

    SOS limited had only once fought back the claims by issuing a statement on its website regarding these claims being false accusations only to be made for the economic benefit of the short sellers.

    Context behind SOS’s crypto-mining operations and claims of fraud

    On January 2021, SOS stock announced its crypto mining plans for investing heavily into acquiring mining machines and benefitting from growing investor’s interest in crypto assets. The crypto mining operations are handled by SOS Information Technology (SOS) which is a subsidiary of SOS Limited. Earlier in February the Company announced the acquisition of 5000 crypto mining machines while almost 2 weeks ago it announced the launching of a cloud crypto center established in Hejian County.

    These were later claimed by investigative researchers to be fake news, as covered in our previous article.

    Investigative research had led to finding out that the company had posted several fake and dummy photos as well as inaccurate press releases which called out to be misrepresenting and bogus.

    The Hidenburg Research and Culper Research claim that SOS is an elaborate “pump and dump” scheme that claimed to have bought 15,000 mining rigs on 21 January only to give doctored photos of the crypto miners. Investors fear the risk of investing in SOS stock.

    A respond to the claims?

    SOS Ltd has not responded back to these allegations which have dragged on for few months, by not continuing to do so, the SOS stock is plunging as more and more investors give in to the fear of fraud and overwhelming lawsuits. This is making SOS lose investor’s confidence.

  • Is SOS Limited’s (SOS) recent Bitcoin mining spree authentic?

    Is SOS Limited’s (SOS) recent Bitcoin mining spree authentic?

    SOS Limited (NYSE:SOS) stock price grew by 5.27% with the current price being at $5.78. The company is offering more of its stock as warrants. These warrants come in the shape of American Depositary Receipts (ARDs) are the ones available for trading in the US, and investors recently came under the pressure of selling these ADRs for $4.05 each and acquired 23.88 million. This had allowed SOS to gain $96.7 million in proceeds.

    The company went further on to give more additional warrants for 23.88 million more ADRs for $7 per ADR. This would have caused investors shares to dilute and now that the market force is generally pressured towards selling stocks, the investors are selling their new ADRs as well.

    From Insurance company to crypto-mining company to shell-company allegations


    In August 2020, the SOS company acquired its insurance brokerage qualifications in China and also acquired 100% equity interests of Inner Mognolia Post Insurance Agency Co. The now-known Mongolia SOS Insurance Agency Co. Ltd. (Inner Mognolia SOS) can conduct sale of insurance products and collect insurance premium.

    Then on January 2021, The Company announced its crypto mining plans for investing heavily into acquiring mining machines and benefitting from growing investor’s interest in crypto assets. The crypto mining operations are handled by SOS Information Technology (SOS) which is a subsidiary of SOS Limited. Earlier in February the Company announced acquisition of 5000 crypto mining machines while almost 2 weeks ago it announced the launching of cloud crypto center established in Hejian County.

    However, as much of a hype and rally these crypto-aspirated news carried, they were criticized heavily by investigative research firms like Hindenburg and Culper Research for their authenticity.

    Fake pictures of SOS Ltd’s mining operations

    News about the company’s mining activities have started to question company’s authenticity.The tide of selling-off can most probably be set in motion by the increased amount of claims of fraudulent activity by investment research firms like Hindenburg Research and Culper Research. After which now follows an investigation into these claims by shareholder attorneys Hagens Berman.

    SOS limited fought back by issuing a statement on its website regarding these claims being false accusations only to be made for the economic benefit of the short sellers. However investigative research had led to finding out that the company had posted several fake and dummy photos as well as inaccurate press releases which called out to be misrepresenting and bogus.

    Photos posted by SOS Ltd claiming to be pictures of recently acquired A10 Pros were actually identified by the Culper Researchers to be Avalon’s 1066 miners. In fact, the photos belonged to SOS Ltd’s rival RHY’s company photos published on their website. Even the address given on the company’s website for its headquarters was found out by Hidenburg research to be location of a three-star hotel instead.

    SOS Ltd needs to defend itself from these claims

    The Hidenburg Research and Culper Research claim that SOS is an elaborate “pump and dump” scheme that claimed to have bought 15,000 mining rigs on 21 January only to give doctored photos of the crypto miners. The Hagens Berman partner, Reed Kathrein is heading the investigation for what she states to be “false promotion scheme”. The SOS ADRs have dramatically fallen. Investors now most obviously fear the risk of investing in SOS stock. Many investors are of the view that SOS Ltd should respond to these allegations which has been floating around for a week, if not then many will pull-out of the stock due to fear of these allegations and investigations.

  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    In the recent times, Aviation stocks have suffered a serious crash. Covid-19 shut down the entire business. But US aviation stocks, such as United Airlines and Delta Airlines, are on the rise again. European aviation stocks are also doing well. Air France-KLM ended 2020 with a loss of €7.1 billion, but the share is rising again. And one of the best airline stocks is Ryanair. The Irish airline’s share is already above pre-corona levels. The optimism of investors must be sought in the rollout of the vaccinations and also the introduction of a kind of vaccine passport, which apparently more and more politicians are in favor.If vaccinations gain speed and everyone who wants to go on holiday by plane must be able to present proof of vaccination, more people will be triggered to actually get vaccinated.

    For Bank of America, an oil price of $100 is realistic within this and a few years. The drivers would be better fundamentals and monetary policy. Futures prices in the future are priced considerably more dearly and open interest has also risen sharply for options with a strike $100. Open interest has increased from 500 to 3,950 option contracts in one week.The rising open interest indicates an increasing number of open option contracts, a significant increase and interest from market participants. In the meantime, there are voices that OPEC + must increase production to meet (future) demand.

    It looks like Warren Buffett has been busy last year. On the one hand, Berkshire Hathaway has more than double the volume (purchases and sales) compared to 2019. This will likely have been mainly due to sector rotation, as Warren Buffett is known for its long-term investing. Unless he has suddenly become a day trader. But let’s not assume this. Berkshire Hathaway further repurchased $24.7 billion of its own shares.In the newsletter sent out by Berkshire Hathaway this weekend, it is also noticeable that the amount of cash has increased quarter after quarter in recent years. In Q4 2020, Berkshire Hathaway was on a cash mountain of $138.3 billion. In 2020, the share of financial institutions in the holding decreased their portfolio from 41% to 24%. Warren Buffett and his partner Charly Munger appear to be seeing something in the energy and telecommunications sector. A large interest was taken in Chevron and Verizon Communications.

    Today Top Movers

    NIO Limited (NIO) stock soared 5.9% to $48.48 in the pre-market trading.

    SOS Limited (NYSE: SOS) shares are trading up 28.3% at $6.12 at the time of writing.

    electroCore Inc. (ECOR) grew over 58.06% at $3.43 in pre-market trading today after declaring an exclusive distribution agreement with Medistar following regulatory approval in Australia.

    Socket Mobile Inc. (SCKT), a Computer Hardware company, rose about 42.72% at $15.0 in pre-market trading Monday. The firm today reported it has licensed SpringCard SAS core contactless technology.

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Plug Power Inc. (PLUG), upgrading the stock to “Overweight” and assigning a $65.0 price target, representing a potential upside of 34.35% from Friday’s close. 

    CME Group Inc. (CME) has won the favor of Keefe Bruyette’s equity research team. The firm upgraded the shares from Underperform to Market Perform and moved their price target to $197. 

    Spirit AeroSystems Holdings Inc. (SPR) received an upgrade from analysts at Morgan Stanley, who also set their one-year price target on the stock to $50. They changed their rating on SPR to Overweight from Equal Weight in a recently issued research note. 

    Earlier Monday JP Morgan reduced its rating on Agios Pharmaceuticals Inc. (AGIO) stock to Neutral from Overweight and assigned the price target to $54. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for TechnipFMC plc (FTI) has been changed to Equal-Weight from Overweight and the new price target is set at $8.8. 

    Analysts at RBC Capital downgraded Pactiv Evergreen Inc. (PTVE)’s stock to Sector Perform from Outperform Monday.

    Latest Insider Activity

    ContextLogic Inc. (WISH) Chief Accounting Officer Just Brett announced the sale of shares taking place on Feb 24 at $19.65 for some 36,901 shares. The total came to more than $0.73 million. 

    Walmart Inc. (WMT) Director WALTON S ROBSON sold on Feb 26 a total of 356,175,368 shares at $130.64 on average. The insider’s sale generated proceeds of almost $92.81 million. 

    Macy’s Inc. (M) Director VARGA PAUL C declared the purchase of shares taking place on Feb 26 at $15.25 for some 13,115 shares. The transaction amount was around $0.2 million. 

    Coeur Mining Inc. (CDE) Chairman (non-executive) MELLOR ROBERT E bought on Feb 24 a total 185,233 shares at $10.53 on average. The purchase cost the insider an estimated $10,530.

    Important Earnings

    Top US earnings releases scheduled for today include Workhorse Group Inc. (NASDAQ: WKHS). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.13 per share from revenues of $1.32M in the three-month period. 

    Analysts expect Perrigo Company plc (PRGO) to report a net income (adjusted) of $1.00 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.32B. 

    Inovio Pharmaceuticals, Inc. (INO), due to announce earnings after the market closes today, is expected to report earnings of -$0.22 per share from revenues of $1.11M recently concluded in a three-month period.

  • What’s Pushing SOS Ltd. (SOS) Shares so high?

    What’s Pushing SOS Ltd. (SOS) Shares so high?

    The colossal trading volume is keeping the shares price pump.

    SOS limited (SOS) shares are on the bullish move following a heavy trading volume. It seems that the bull traders are keeping the stock moving. More than 180 million people have traded SOS today, as we write this.

    One of the major factors that have kept the bulls running is the increase in the price of Bitcoin. Recently, the company received 5000 PCS of mining rigs which can generate BTC and ETH. With much happening across the cryptosphere, SOS has even more upside going into the future but with much more risk, as well.

    What’s happening?

    SOS Ltd. (SOS) is a crypto mining company that has picked up hype in the last one-month period, following the bullish rally of Bitcoin. The future of cryptocurrency is seeming more evident with each passing day. The adoption of Bitcoin by PayPal was a major step towards the widespread adoption of digital currency.

    Recently, Elon Musk’s Tesla bought BTC’s worth $1.5 billion and the reports started to circulate that Apple is also interested in buying the crypto giant coin.

    On Feb. 11, a Twitter user named VoxTrader tweeted that SOS has an identical setup as one of the heaviest shorted stocks, similarly to NAKD which is predicted to surge higher. And, NAKD shares soared over 1,700% from $0.19 to $3.39.

    The company recently announced that it has received 5000 PCS of mining rigs five days earlier than the date of delivery. The first batch contains 5000 PCS of mining rigs which can generate both Bitcoin and Ethereum about Hash Power 175P and Hash Power 350G, respectively.

    If the company utilizes these mining rigs to the maximum of their benefit and operates as expected, the Annual Return on Investment (ROI) is forecasted to range higher—based on the current BTC and ETH price momentum. The chairman of SOS, Yandai Wang highlighted that they have secured the supply of crypto mining equipment that could help in generating enough crypto hash power to sink in with the rising cryptocurrency price.

    SOS has also agreed with certain accredited investors to sell its American Depositary Shares (ADSs) that would be issued at an exercise price of $2, totaling up to 23.8 million ADSs. The company plans to use the gross proceeds from the offering to enhance its planned blockchain-based cryptocurrency mining network. Moreover, use the proceeds for acquisitions in the relevant marketplace and also for working capital and general corporate purpose.

    Conclusion

    There is still much upside for SOS Ltd. (SOS) stock as the cryptocurrency market is breaking new records. However, there is much volatility too which could be risky too.

  • Early Morning Vibes: Check Out These 4 hot Crypto Stocks Right Now

    Early Morning Vibes: Check Out These 4 hot Crypto Stocks Right Now

    On February 16, American stock exchanges finished trading in different directions. The S&P 500 index dropped by a symbolic 0.06%, to 3933 points, the NASDAQ lost 0.34%, and the Dow Jones added 0.20%. The news background remained calm, investors were waiting for President Biden’s speech on fiscal stimulus. The finance sector continued to rally and gained 1.77% on the back of higher Treasury yields. The energy sector rose 2.26% on the back of rising oil prices.

    Company news

    BorgWarner (BWA: + 4.3%) acquires 59% of German company Akasol to expand its vehicle electrification capabilities.

    Palantir Technologies (PLTR: -12.8%) unexpectedly posted negative EPS, although revenue exceeded consensus expectations.

    Chemicals manufacturer Ecolab (ECL: -4.1%) was below forecast. Management noted the negative effect of the COVID-19 factor.

    Today, global stock markets are showing mixed dynamics. Joe Biden made a speech on the fiscal stimulus package in Wisconsin the day before. The US President expressed his hope for a return to normal life by next Christmas and noted that by the end of July, the vaccines produced will be enough to vaccinate all Americans. The speech of the head of state did not contain new information on incentives, but he stressed the need to adopt a large anti-crisis program.

    Weather disasters in the form of extremely low temperatures, strong winds and snowfalls that have covered the southern and central states negatively affect production processes. For example, many automakers were forced to suspend the work of assembly lines. Such natural phenomena are of a short-term nature; therefore, they usually do not have a noticeable effect on the stock market. However, in the current environment, when the S&P 500 index is at a historic high, many positive factors have been taken into account in quotes, and a sharp rise in Treasury yields reduces the attractiveness of shares, any negative event can cause a desire to fix some positions. In this regard, a short-term correction looks more and more likely.

    The Freedom Finance Sentiment Index climbed to 78 out of 100. The index reflects market participants’ hope for a global economic recovery in 2021. Worries about the negative impact of the coronavirus pandemic are eased by the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is still in an uptrend. Resistance near its upper boundary is still a significant obstacle. A breakthrough of resistance at 3950 points will mean an acceleration of the upward movement. On the eve of buyers tested this resistance, but could not overcome it. The RSI indicator is already close to the overbought level, so the upside potential in the short term is limited.

    Top Crypto Stocks‎

    Marathon Patent Group Inc (MARA) share price jumped 10.65% to $48.20 during early morning ‎trading session on ‎Wednesday.‎‎ The company is based in Nevada and is focused on Bitcoin mining.

    Airnet Technology Inc (ANTE) stock ascended 60% at $7.92 in the pre-‎market trading today.‎‎ ANTE announced giving Unistar Group Holdings Ltd a 19% stake in exchange for the delivery of 500 computer servers designed especially to mine cryptocurrencies.

    Riot Blockchain Inc (RIOT) gained over 15.29% at $68.60 in pre-market ‎trading on Wednesday.‎‎ Riot is based in Colorado and is primarily focused on Bitcoin mining.

    Sos Ltd (SOS) grew over 27.23% at $15.09 in pre-market trading ‎today.‎‎ SOS is an emerging blockchain-based and big data-driven marketing and solution provider. 

    Top Upgrades & Downgrades

    Goldman Sachs turned bullish on Palantir Technologies Inc. (PLTR), upgrading the stock to “Buy” and assigning a $34.0 price target, representing a potential upside of 22.17% from Tuesday’s close. 

    Rexnord Corporation (RXN) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $60.0, suggesting 33.01% additional upside for the stock. 

    Regal Beloit Corporation (RBC) received an upgrade from analysts at KeyBanc, who also set their one-year price target on the stock to $155.0. They changed their rating on RBC to Overweight from Sector Weight in a recently issued research note. 

    Earlier Wednesday JPMorgan reduced its rating on bluebird bio Inc. (BLUE) stock to Neutral from Overweight and assigned the price target to $39. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Fortive Corporation (FTV) has been changed to Equal Weight from Overweight and the new price target is set at $75.

    Analysts at RBC Capital downgraded USA Compression Partners LP (USAC)’s stock to Sector Perform from Outperform Wednesday.

    Latest Insider Activity

    Micron Technology Inc. (MU) SVP, General Counsel&Secretary Poppen Joel L announced the sale of shares taking place on Feb 11 at $85.80 for some 4,984 shares. The total came to more than $0.43 million. 

    Square Inc. (SQ) Chief Financial Officer Ahuja Amrita sold on Feb 11 a total of 147,310 shares at $264.55 on average. The insider’s sale generated proceeds of almost $3.72 million. 

    Coty Inc. (COTY) Director Singer Robert S declared the purchase of shares taking place on Feb 11 at $6.63 for some 75,000 shares. The transaction amount was around $0.5 million.

    Important Earnings

    Top US earnings releases scheduled for today include Tilray Inc. (NASDAQ:TLRY). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.15 per share from revenues of $55.76M in the three-month period. 

    Analysts expect iQIYI Inc. (NASDAQ:IQ) to report a net income (adjusted) of -$0.38 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.16B. 

    Marathon Oil Corporation (MRO), due to announce earnings after the market closes today, is expected to report earnings of -$0.2 per share from revenues of $838.05M recently concluded three-month period.

  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    Early Morning Vibes: The 4 Best Stocks To Buy Now

    Futures for major US stock indices are growing rapidly on Monday – on the first day of February, a correction is planned on the American markets after a noticeable decline on Friday, according to trading data.

    The dynamics of futures on Monday indicates that stock markets may start February with corrective gains after the major US stock indexes lost around 2% on Friday. The sell-off occurred on fears of abnormal volatility in the prices of individual stocks and some assets.

    In general, analysts expect continued growth in the stock markets on optimism with regard to the prospects for the economy.

    In this light, traders are waiting for new macro statistics. So, in the first hours of major trading on Monday, the American Institute for Supply Management (ISM) will publish the index of business activity in the US industry (ISM Manufacturing) in January. Experts believe that the figure dropped to 60% against 60.5% in December.

    In addition, investors continue to follow the corporate reporting season in the US: 111 companies from the S&P 500 will report this week. In particular, the markets are awaiting with interest the quarterly financial results of such large technology companies as Amazon and Alphabet, which will present their financial results after the closing of Tuesday trading.

    Today Top Movers

    Tuscan Holdings Corp (THCB) gained over 55.24% at $24.15 in pre-market ‎trading on Monday.‎‎

    ‎Sos Ltd (SOS) grew over 6.57% at $3.24 in pre-market trading ‎today.‎ The company recently revealed the development of cutting-edge series of security systems based on Blockchain and AI technology competing the initial phase of its Blockchain strategy.‎

    ‎Sundial Growers Inc (SNDL) stock moved up 8.53 percent to $0.88 in the pre-market ‎trading following the declaration of US$100 million registered offering.‎

    ‎Adamas Pharma (ADMS) is up more than 24.37% at $7.35 in pre-market ‎hours ‎Monday ‎February 01, 2021.‎‎

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Anterix Inc. (ATEX), upgrading the stock to “Neutral” and assigning a $40.0 price target, representing potential upside of 10.23% from Friday’s close.

    PagSeguro Digital Ltd. (PAGS) has won the favor of JP Morgan’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $61.0, suggesting 24.62% additional upside for the stock.

    Nikola Corporation (NKLA) received an upgrade from analysts at Wedbush, who also set their one-year price target on the stock to $25.0. They changed their rating on NKLA to Neutral from Underperform in a recently issued research note.

    Earlier Monday KeyBanc reduced its rating on Lowe’s Companies Inc. (LOW) stock to Sector Weight from Overweight.

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Heartland Express Inc. (HTLD) has been changed to Sector Weight from Overweight.

    Analysts at KeyBanc downgraded Bed Bath & Beyond Inc. (BBBY)’s stock to Underweight from Sector Weight Monday.

    Latest Insider Activity

    AMC Entertainment Holdings Inc. (AMC) Director Silver Lake Group, L.L.C. announced the sale of shares taking place on Jan 27 at $16.05 for some 33,317,145 shares. The total came to more than $534.75 million.

    Gran Tierra Energy Inc. (GTE) 10% Owner GMT CAPITAL CORP sold on Jan 28 a total of 58,808,029 shares at $0.63 on average. The insider’s sale generated proceeds of almost $1.18 million. 

    FuelCell Energy Inc. (FCEL) CEO Few Jason declared the purchase of shares taking place on Jan 25 at $17.99 for some 11,000 shares. The transaction amount was around $0.2 million. 

    Intel Corporation (INTC) Chief Financial Officer Davis George S bought on Jan 26 a total 76,823 shares at $55.34 on average. The purchase cost the insider an estimated $503,317.

    Important Earnings

    Top US earnings releases scheduled for today include Otis Worldwide Corporation (NYSE: OTIS). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.59 per share from revenues of $3.36B in the three-month period. 

    Analysts expect ON Semiconductor Corporation (NASDAQ: ON) to report a net income (adjusted) of $0.28 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.36B. 

    NXP Semiconductors N.V. (NXPI), due to announce earnings after the market closes today, is expected to report earnings of $2.1 per share from revenues of $2.46B recently concluded three-month period.