Society Pass stock soars 177% after being added to the Russell 2000 index

Shares of Society Pass Inc. SOPA, +243.35%, a Vietnamese e-commerce institution with a Nasdaq listing, roseate 177% connected Monday, aft the institution was added to the Russell 2000 index. Society Pass went nationalist successful November successful a woody that raised $26 million. The institution calls itself an acquisitions-focused, e-commerce holding company, that focuses connected helping customers make loyalty from customers and merchants. Chief Executive Dennis Nguyen said the IPO proceeds volition beryllium utilized to turn the concern successful Southeast Asia. The company's IPO documents see disclosures of respective lawsuits against the institution brought by erstwhile employees and 1 by task superior steadfast SOSV, relating to its concern successful Hottab, a POS app for tiny businesses. The institution had a nett nonaccomplishment of $8.4 cardinal for the 3 months to end-Septeber, wider than the $1.6 cardinal nonaccomplishment posted successful the year-earlier period. Revenue roseate to $83,534 from $11,629. Society Pass has besides received respective remark letters from the Securities and Exchange Commission regarding its disclosures, according to the SEC's edgar page.