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SOS Limited (SOS:US or NYSE: SOS) zoomed more than 100 per cent at the opening bell on January 7. The surge came following the announcement of hiring of Dr. Eric H. Yan, a cryptocurrency expert, on January 6.
The China-based healthcare platform is expected to set up SOS Digital Technologies Inc., which will be headed by Dr Yan. The software as a service (SaaS) company aims to tap his crypto mining, security, and insurance technologies expertise. The company is likely to get benefited from Yan’s blockchain knowledge to safeguard SOS's existing portfolios.
At the time of writing this article, SOS’ 10-day average trading volume rose over 1.5 million units.
Let us check out its market fundamentals of this SaaS-based platform:
SOS Limited (SOS:US or NYSE: SOS)
Current Stock Price: US$ 3.518
SOS Ltd offers emergency-based healthcare services, roadside assistance, and living assistance in China. Its subsidiary, SOS Information Technology Co. Ltd. operates through its cloud-based platform powered by blockchain and artificial intelligence.
The stock is actively trading in North American markets with over 20.6 million units changing hands in the early hours of the market on January 7. The stock has added 80 per cent gains in the last one month. The company has almost 35.2 million listed outstanding shares. Its current market cap is around US$ 123.88 million.
The healthcare service provider’s units offer a positive return on equity of 98.60 per cent and a return on asset of 2.62 per cent. Its price-to-earnings ratio is 58.64, and its current price-to-cashflow ratio stands at 6.90, according to TMX data.
As per the company’s exchange filing, the company estimated total revenue of nearly US$ 49.5 million for the full year 2020, a massive rise of 451 per cent year-over-year (YoY).
In its outlook, the company is anticipated revenue growth of nearly 286 per cent in 2021. It also expects to acquire a national insurance brokerage agency.
