This month’s first batch of SoodCommerce.com’s (sood.com) new stock includes $40 million in cash (soo) and $20 million in stock (sooo).
This is the first round of stock, which Sood hopes will fuel its growth as it looks to tap into the emerging and emerging markets.
The company said the new stock will be priced based on the “price of the shares as of this writing.”
In other words, the price will change in the next 72 hours.
This means if the stock drops by 50 cents, the stock will rise by 50.
If the stock falls by 10 cents, it will drop by 10.
It’s an intriguing market to watch.
We already knew that Sood has a $2 billion cash position, and the company has also been rumored to be buying a $20 billion-plus stake in Snap Inc., according to Bloomberg News.
It remains to be seen whether this is the start of a new era for Sood.