Society Pass Incorporated (SOPA) has experienced an increase of 30.49% in aftermarket. However, the last trading session closed at $3.28 with a decrease of 16.11%.
Addition to the Russell 2000 Index – Worth it?
On 19th December 2021, SOPA announced that the firm has been added to the Russell 2000 Index successfully. The Russell 2000 Index examines the performance of small-cap stocks in the US stock market. The Russell 2000 Index is calculated on participation in the wide market Russell 3000 Index, and it will remain in existence until the next reconfiguration. Moreover, Russell indexes are frequently utilized as index funds and as benchmarks for active trading strategies. Last but not the least, Russell’s US indices are used to gauge assets worth around $10.6 trillion. Russell indexes are produced by FTSE Russell, one of the world’s premier index providers.
Society Pass Incorporated (SOPA): What’s Next?
This is a remarkable milestone for Society Pass to achieve so quickly following the successful initial public offering (IPO) in November. As SOPA endeavors to fulfill the goals for growth being a part of these highly recognized indices would bring greater market recognition to the Company.
Launch of LeFlair Lifestyle E-Commerce Platform
SOPA announced the launch of the LeFlair Lifestyle E-Commerce Platform on 13th December 2021. The recent debut of LeFlair into the Vietnam marketplace in early September has gone incredibly successfully. This can be seen by the revenues from the Leflair business unit in just the final three weeks of September.
Moreover, the company believes that Society Pass is well-positioned to execute its strategic ambitions. This is supported by the conclusion of the IPO in early November, which produced gross proceeds of $28.125 million. Furthermore, these include boosting the platform marketing expenditure, launching the Society Points reward program, investing in more infrastructure like data centers, call centers, and warehouses, and funding e-commerce acquisitions in Southeast Asia (SEA) and South Asia.
