Top 5 Falling Chinese Tech Stocks

In this article, we discuss the top 5 falling Chinese stocks. If you want to read our detailed discussion on the Chinese stock market and technology sector, head over to Why Are Chinese Tech Stocks Falling.

 5. SOS Limited (NYSE:SOS)                       

Share price performance for the past 2 years: -96.5%

Number of Hedge Fund holders: N/A

SOS Limited (NYSE:SOS) delivers data extraction and analysis solutions to both corporate and individual clients in the People’s Republic of China. The company offers marketing data, technological tools, and resolutions tailored for insurance firms, emergency assistance services, as well as portals pertaining to insurance products and healthcare information. In the past years, it has shifted its focus to cryptocurrency mining, blockchain-driven insurance, and security management enterprises. 

Given the reduction in value for existing shareholders and the unimpressive pricing of the offering, it’s understandable that the SOS Limited (NYSE:SOS) stock is experiencing a decline for the past 2 years. This decline increased further when China placed stringent laws against cryptocurrency in order to maintain national security and social stability. In 2021, according to the Wall Street Journal, The Central Bank of China declared that any transactions involving cryptocurrencies are illegal, reaffirming the nation’s strict position against digital alternatives to government-issued currency. Both of these reasons could have led to the firm’s stock taking a serious hit in the past two years.