Reddit crowd reigniting momentum?SOS Limited surged 33% in morning trading

SOS Limited surged 33% in Wednesday morning trading.

SOS was actively traded stock today with over 64 million shares having already changed hands. Yesterday, it was reported that a class action lawsuit has been filed against SOS for providing misleading information to investors.Despite news of the lawsuit, SOS was the strongest stock climbing approximately 33% at the time of writing.

Reddit Crowd Reigniting Momentum?Apost on a Reddit thread late Tuesday, which has since then been deleted, called upon traders to buy the stock to initiate a short squeeze over the next five trading days.

"This will require everyone to participate. Whether it is 10 shares, or 10,000. We need your Diamond hands there," the post said.

The Redditor pointed out that 20% of the float is short.

Delving on the fundamentals, the post said SOS will be installing its third batch of mining rigs, by April 14. The Redditor called upon fellow retail traders to accumulate shares before the PR is out next week. The post claimed that a mass buying is coordinated for Wednesday.