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Seeking Alpha 2022-03-29 21:02:45

Singularity Looks Overvalued Based On Fundamentals And Its Partners Are In Trouble

The company is pivoting to Bitcoin mining machines through a JV with a Highsharp, and the JV recently got a $200 million order from SOS.However, Highsharp is being sued over patent infringement while SOS was targeted by short sellers in 2021 and recently received a subpoena from the SEC.There is no information about Thor’s margins and I have doubts the SOS order will be completed.Considering Singularity is valued at over $250 million as of the time of writing, I think this could be a good moment to open a small short position paired with call options.

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