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Shares of SOS Limited (NYSE: SOS) rose more than 30% in pre-market trading on Wednesday, SOS stock, targeted by short sellers and embraced by social trading fans, peaked in mid-May February peaked at $ 15 a share before falling to $ 477 over the next 10 days

SOS is a Chinese tech company that recently entered the burgeoning cryptocurrency market with its own mining operation and a blockchain offering, SOS stock received a boost in late March after it was announced that it would launch a digital asset exchange

The broader crypto space has expanded into April, when the valuation of the entire cryptocurrency market topped the $ 2 trillion mark this week.The surge was led by Bitcoin (CCC: BTC), which has been its own for a week Holds Market Cap Over $ 1 Trillion According to Reuters, market cap can be maintained as long as the largest crypto is over 53$ 000 is

Short interest in SOS stocks has hit more than 216% of its short positions after a difficult price in the past few weeks, according to MarketBeat.Hindenburg Research accused management of falsifying business announcements in what was once touted as a company that stood out mainly focused on solutions for emergency services, was with the takeover of 5000 cryptocurrency mining machines a big rally in February

For the past 24 hours, Reddit boards of comparisons to GameStop (NYSE: GME) have been lit up, asking for a quick print this morning, “We’re going to buy as many stocks as we can get our hands on and we’re going to be selling Limit those stocks to or above $ 100, “promised a poster on an SOS subreddit

Meanwhile, another Redditor wrote, “SOS currently has 40% of its stock borrowed and 8% interest on those stock borrowed, we believe this is a prime candidate for Pop, especially after hitting a double bottom on the VWAP spike would also help us technically ”

At the time of this writing, Robert Lakin held (neither directly nor indirectly) positions in the securities referred to in this article

InvestorPlace associate Robert Lakin is a seasoned finance writer and editor who follows fintech, agtech, and property tech startups

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2021 InvestorPlace Media, LLC All rights reserved 1125 N Charles St, Baltimore, MD 21201

SOS share

World news – CA – SOS share: Is Crypto Play SOS rising due to short squeeze hopes?

Source: https://investorplace.com/2021/04/sos-stock-is-crypto-play-sos-rising-on-short-squeeze-hopes/