Why Society Pass Stock Is Surging Over 70% Premarket Today
Synopsis
The company provides digital services, including e-commerce, marketing, and loyalty programs, in the Southeast Asian markets.
U.S.-listed shares of Southeast Asian Internet and media firm Society Pass jumped over 70% in premarket trading on Monday, building on Friday's momentum when the stock surged by over 21%.
Investment research firm Ascendiant Capital, the lone brokerage covering the stock, upgraded its price target on SOPA to $18 from $15.
If the premarket market gains hold in the regular trading session on Monday, it would mark the stock's best day since February 2025. To be sure, the stock has experienced significant fluctuations on several occasions.
Society Pass offers a diverse range of digital services, including loyalty programs, digital media and advertising, online travel booking, and e-commerce. The company mainly operates in Vietnam, Indonesia, the Philippines, Singapore, and Thailand.
The company was recently under scrutiny for Nasdaq's minimum stock price requirements and regained compliance last month.
As of the last close, the stock traded at $1.41, resulting in a market capitalization of approximately $8.6 million for the company.
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