(MarketWatch) Shares of Society Pass Inc. rose more than 15% on Tuesday, after closing up 240.18% on Monday following announced inclusion into the Russell 2000 index.
Investors’ interest in the stock happens amid several lawsuits that were launched by former employees and venture capital company SOSV.
Society Pass has also been under the Securities and Exchange Commission radar, receiving several comment letters concerning its disclosures.
The already Nasdaq-listed Vietnamese e-commerce firm made a net loss of $8.4 million in the quarter to the end of September, higher than $1.6 million posted in the prior year. The company had posted a revenue of $83,534, an increase from $11,629 a year earlier.
Society Pass was listed in November, raising $26 million in the deal, with the CEO Dennis Nguyen saying the proceeds will go towards growing its businesses.
SOPA: NASDAQ is up +15.01% on premarket.
