Wall Street Researcher: Society Pass (Nasdaq: SOPA) Significant Upside Momentum from Current Valuation; Shares in BREAKOUT Territory

Rhea-AI Summary

Society Pass Inc. (Nasdaq: SOPA) is experiencing a significant rebound with its stock entering breakout territory due to heightened share volume. The company reported first-quarter 2022 revenues of $445,090, marking an impressive 4,600% year-over-year increase. With a cash reserve of $31 million and zero debt, Society Pass is well-positioned for growth through acquisitions, already registering 1.6 million consumers and 5,500 merchants. Notably, its recent acquisition of Gorilla Networks enhances its blockchain capabilities.

Positive

• First-quarter 2022 revenues reached $445,090, a 4,600% increase year-over-year.
• Cash reserves of $31 million and zero debt provide a strong financial foundation.
• Acquisition growth strategy is in progress with successful integration of 1.6 million consumers and 5,500 merchants.
• Recent acquisition of Gorilla Networks enhances its blockchain and Web3 capabilities.

Negative

• None.

NEW YORK NY, June 10, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Wall Street Researcher (“WSR”) issues Equity Research Update on Society Pass Inc. (Nasdaq: SOPA).

Summary:
· Society Pass technically has entered BREAKOUT TERRITORY with significant upside momentum on above average share volume.
· With $31 million in cash ($1.34/shr Cash), by all standards these shares are in an oversold condition and are presently rebounding.
· Rapid growth by acquisition is now solidly underway with several additional acquisitions planned into the near future.
· Superior management team helming Society Pass.

Click Here to view full Wall Street Researcher Equity Research Update.

Key Highlights:
1) Society Pass announced first quarter 2022 revenues of $445,090, represents year-on-year increase of a staggering 4,600%.
2) Society Pass reported a cash balance of $31 million and, more importantly, zero debt on its balance sheet. For an acquisitions-focused company, its pristine balance sheet is a significant positive for potential appreciation in the share price. This large cash position enables Society Pass to fully execute its business model.
3) SOPA’s growth has also been quite impressive. At the end of March 2022, it has acquired more than 1.6 million registered consumers and more than 5,500 merchants onto its ecosystem.
4) Society Pass’s portfolio component, Leflair, sells premium international and domestic brands to local Vietnamese consumers via its Leflair.com platform. The company has expanded rapidly with revenues growing 10-20% monthly since its re-launch onto the Vietnam marketplace in September 2021.
5) Recently Society Pass acquired its first Singapore based company, Gorilla Networks. Gorilla Networks is the first BLOCKCHAIN/WEB3-enabled MVNO to offer contract free, on-demand mobile service as non-fungible tokens, users converting unused mobile data into digital assets - Gorilla GO tokens.

About Society Pass
As a loyalty and data marketing ecosystem, Society Pass operates multiple e-commerce platforms across its key markets in SEA. Its business model focuses on analysing user data through the expected launch of its Society Pass loyalty platform and circulation of its universal loyalty points, which seamlessly connects consumers and merchants across multiple product and service categories to foster organic loyalty. Since its inception, SoPa has amassed over 1.6 million registered consumers and over 5,500 registered merchants/brands on its platform. It has invested 2+ years building proprietary IT architecture with cutting edge components to effectively scale and support its consumers, merchants, and acquisitions. 

Society Pass provides merchants with #HOTTAB Biz and #HOTTAB POS – a specialized POS technology solution, a comprehensive system for payment, loyal customer management, user profile analytics, and convenient financial support packages for small and medium-sized enterprises. 

In addition, SoPa operates Leflair.com, Vietnam’s leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Hanoi, Vietnam, and Gorilla Networks, a Singapore-based, blockchain/web3-enabled mobile virtual network operator. 

For more information, please check out: http://thesocietypass.com/. 

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

FAQ

What were Society Pass's first-quarter 2022 revenues?

Society Pass reported first-quarter 2022 revenues of $445,090, representing a 4,600% year-over-year increase.

What is Society Pass's cash position as of June 2022?

As of June 2022, Society Pass has a cash position of $31 million with zero debt.

What is the significance of the acquisition of Gorilla Networks by Society Pass?

The acquisition of Gorilla Networks enables Society Pass to enhance its blockchain and Web3 capabilities, expanding its service offerings.

How many consumers and merchants are registered with Society Pass?

Society Pass has over 1.6 million registered consumers and more than 5,500 merchants.

Is Society Pass's stock in breakout territory?

Yes, Society Pass's stock has entered breakout territory, indicated by significant upside momentum.