SOS Limited (SOS) Forms Double Bottom and Now Rebounding

Information technology company SOS Limited (NYSE: SOS) tanked considerably last month after a scathing short-seller report from the firm Hindenburg Research.

After having fallen by as much as 60% from its 52-week highs, the stock regained lost ground after the company’s management released a statement and calmed investors’ nerves. On Tuesday, the SOS stock soared 21% to take its total gains for the year to as big as 375%.

Hindenburg Research had stated in its report that the SOS stock is worth $0. The report went on to assert that SOS is involved in business with dubious firms. On top of that, a similarly scathing report had been released by Culper Research as well. However, the company did not take the reports lying down and in a statement called the assertions misleading and distorted. Now that the stock is gaining again, it might be a good move to keep the SOS stock on the watch lists.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.