SUIC Stock Overview: Is Sino United Stock Worth It?
SUIC stock is extremely volatile at the current moment. In fact, shares of Sino United Worldwide (OTC: SUIC) fell off a cliff in early May after a consistent rise in April. Let’s take a closer look at this popular fintech stock.
SUIC Stock Price History
Sino United stock trades on the over-the-counter (OTC) market. And it’s grabbing headlines due to its recent dealings and resulting stock volatility.
Its new collaboration with Oracle Taiwan is the source of this market movement. The collaboration was announced in mid-April.
At first, SUIC stock received an immediate boost from the news. At the time, it was trading for $8 a share. It quickly rose to $10 and remained on an upward trajectory to end out the month. By the beginning of May, Sino United stock was pushing $13 a share.
This spike continued throughout the first week of May, including a high of $20. However, the rising stock price took a 180-turn overnight and fell back below $10 on Friday, May 7th.
For some perspective, SUIC stock has a 52-week high of $20 and a 52-week low of $0.22. It began 2021 in the $1 range and was on a consistent rise through the first three months of the year.
As you can see, Sino United has been good to long-term investors. But its recent volatility is cause for concern over the sustainability of the rising stock price. Therefore, let’s dig deeper and learn more about Sino United Worldwide.
Sino United Worldwide Background
Sino United Worldwide is a Chinese fintech company that is currently headquartered in New York City. It invests in and collaborates with a wide range of businesses. This includes artificial intelligence, blockchain and internet of things companies.
It’s currently working with Oracle Taiwan to develop “advanced solutions for Global Supply Chain Finance, Fintech and DeFi Smart Contract Solutions.” This is a major development as it may make waves within the financial world. And it has already played a role in the volatility of SUIC stock. According to Director Joa Chen Gu-Feng in a press release…
SUIC and SoundNet Technology are at the forefront of this transformative era, embracing rapid changes in the business world as we launch our latest DeFi and Smart Contract solutions and digital services that will minimize the risk of arbitrary intervention in the Global Supply Chain Finance,
Investing in OTC Stocks
OTC stocks are growing in popularity with investors across the country. Overall, most OTC stocks are penny stocks that do not meet the proper requirements to trade on the New York Stock Exchange (NYSE) or the Nasdaq. And as a result, they come with more risk and a higher likelihood of volatility.
But that doesn’t mean you shouldn’t invest in OTC stocks. It’s always important to do your research and recognize trends as best as you can.
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Shares of Sino United Worldwide are on a wild ride at the current moment. But the company has had a relatively good start to the year. You may want to consider SUIC stock during this downturn in case it takes off once again.