SOS Stock Price: Sos Ltd hits new low as Bitcoin and stocks extend declines – FXStreet

Stocks Reporter Stocks Reporter

NYSE:SOS fell below $0.40 for the first time since becoming a publicly traded company, as the broader market sell off sent the stock to a new all-time low. On Tuesday, shares of SOS dropped by 5.80% and closed the trading session at $0.39. The nightmare year continued for US markets, as concerns over disappointing big tech earnings this week led to investors hitting the sell button early. All three major indices tumbled yet again as the Dow Jones sank by 809 basis points, the S&P 500 lost 2.81%, and the NASDAQ hit a new low in 2022 after falling by 3.95% during the session.
Stay up to speed with hot stocks' news!
The Bitcoin Mining Council released a report on Tuesday that stated that Proof of Work mining is becoming more energy efficient. The report cited a 59% year over year rise in the use of sustainable energy sources for mining. Proof of Work energy usage has been a hot topic and is one of the driving factors of the State of New York currently seeking a bill that would ban Proof of Work mining. The price of Bitcoin plummeted alongside the equities market on Tuesday, and was down by more than 5.1% during afternoon trading.
SOS Stock
Last year when El Salvador adopted Bitcoin as a legal tender to help boost its struggling economy, many in the crypto and financial industries took notice. Now, a recent survey from the US Bureau of Economic Research shows that only 20% of companies accept Bitcoin, with only 5% of all sales being made in Bitcoin. It appears that citizens in El Salvador still prefer cash and that many do not understand or trust the Bitcoin system itself.

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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
The Australian dollar is recording gains of 0.09% vs. the greenback. China’s Covid-19 outbreak appears to be capped as Shanghai prepares to ease restrictions. Australia’s inflation hits a 20-year high, will the RBA act?
Euro slumped and hit a fresh two-year low on Wednesday but managed to bounce modestly during the New York session as market sentiment improved slightly. However, the main bias remains bearish with the recovery likely to remain limited below 1.0700. 
Gold price is balancing below $1,890.00 after remaining imbalance from the past few trading sessions. Market participants have strongly offered the precious metal on higher expectations of a jumbo interest rate hike by the Fed in May in the last few trading sessions. 
ApeCoin price is still headed north, but the technicals should be analyzed thoroughly to maximize potential profit. ApeCoin price is currently trading at $19,80. Traders should expect a slight pull back into the $19.40 zone before an additional run-up towards $23.
Following the conclusion of its two-day review meeting on April 28, the BOJ is unlikely to announce any changes to its monetary policy settings. The central bank, however, is expected to upgrade its inflation forecasts amid a fragile economic recovery.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.