Earnings are almost here but, big oof by Elon tweeting and bashing on BTC.
Good news is, SOS mines more ETH than BTC. And for a good reason too right; ETH is pretty much blockchain.
The biggest plus is that SOS is working to solve the fossil fuel energy consumption controversy/issue by reaching out for these deals with hydro electric companies. Something that RIOT and MARA have yet to act on.
Technical analysis show that SOS has been following this downtrend continuation pattern. But, the MACD is showing an upwards trend. This is a sign of a classic divergence pattern (reversal pattern).
TA doesn't mean much due to the fact that blockchain investors react more to catalysts because there's very little fundamentals to work with. But the fundamentals are getting better for the blockchain ecosystem as a whole. I really like that SOS is using blockchain for real life uses. Even better, SOS subsidiaries obtained their MSB licenses from both the US and Canada -- a leap towards the launch of their digital asset exchange $$$.
I know that the hedge funds shorting this stock are watching these posts to plot against the investors. lol.
Thank you for the thorough analysis. Can I ask - what is your opinion, how long HF can short SOS, knowing those positive actions from SOS? And Q1 earnings are soon public :)
SPADESASSETS
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@sanderluukas, I wish I could have those exact details. It's difficult to see exactly what mix of options these hedge funds have in their portfolio. You can really only see the dollar amount by looking at their 13f filings. It's also one of those things where the price of the SOS is so low now that there's really not much more to short. The stock would have to reach 0 for any short seller to make a reasonable amount. This is just a guess, but, I can see these hedge funds buying back into the stock because it truly has some value attached to it. I know a lot of people's investment in SOS have been bleeding for them but it's part of the investing game. Patience. As long as SOS continues to make progress in their business, it really only is a matter of time before this company starts to be taken serious.
SPADESASSETS
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@sanderluukas, Well I did't expect to crypto to crash so soon. Holding onto this guy is going to require mad tolerance. It may take years for this stock to jump. In the meantime. Collect more shares while the price falls.
sanderluukas
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@SPADESASSETS, I appreciate that you took time to answer my question.