Society Pass $SOPA Oversold Bounce On Addition To Russell 2000

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SOPA stock continued its bounce off the bottom with a 22% move in morning trade on December 23, 2021.

Society Pass (SoPa) Announces Addition to the Russell 2000® Index

On December 19, 2021, Society Pass Incorporated (Nasdaq: SOPA), a leading Southeast Asian data-driven loyalty platform, today announced that the Company will be added to the Russell 2000® Index, effective at the open of the U.S. markets on December 20, 2021, according to the preliminary list of IPO additions to the Russell indexes.

Dennis Nguyen, CEO of Society Pass, commented, “This is an exciting milestone for Society Pass to reach soon after our successful IPO in November. Being a part of these highly regarded and widely used indexes will bring greater market awareness to our Company as we work to achieve our goals for growth and expansion in Southeast Asia.”

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity market. Membership in the Russell 2000® Index, which remains in place until the next reconstitution, is based on membership in the broad market Russell 3000® Index. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

Society Pass (SoPa) Files 1st Form 10-Q; Building Sales Momentum After Recent Launch of LeFlair Lifestyle E-Commerce Platform and IPO Capital Raise

On December 13, 2021, Society Pass Incorporated (Nasdaq: SOPA) announced the filing of its first quarterly Form 10-Q with the Securities and Exchange Commission since completing its initial public offering on November 9, 2021. The filing is for the three month period ended September 30, 2021, during which Society Pass launched Leflair, its lifestyle e-commerce platform that markets and sells products in three verticals including Fashion & Accessories, Beauty & Personal Care, and Home & Lifestyle.

Dennis Nguyen, CEO of Society Pass, commented, “As you can see from the revenues from our Leflair business unit in just the final three weeks of September, the recent launch of LeFlair into the Vietnam marketplace in early September has gone extremely well and sales momentum is building every day. Supported by the completion of our IPO that raised gross proceeds of $28.125 million in early November, we believe that Society Pass is well positioned to execute its strategic plans. These include increasing the marketing spend for our platforms, rolling out our Society Points loyalty program, investing in additional infrastructure such as data centers, call centers, and warehouses, and funding acquisitions of e-commerce companies in Southeast Asia (SEA) and South Asia.”

For Society Pass’ complete financial results for the period ended September 30, 2021, see the Company’s quarterly Form 10-Q filed with the Securities and Exchange Commission on December 9, 2021.

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📈 SOPA Stock Technical Analysis

Sopa Stock

The large players volume is exploding higher. Does somebody know something? Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry. The technical rating of SOPA is bad and it also does not present a quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when SOPA stock is a good entry.

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