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SOS Limited surged 37% in premarket trading

Tiger Newspress2021-04-07

SOS Limited stock surged 37% in Wednesday premarket trading.

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchasedSOS Limited("SOS" or the "Company") (NYSE: SOS) American Depositary Shares ("ADSs" or "shares") between July 22, 2020 and February 25, 2021, inclusive (the "Class Period"). SOS investors have until June 1, 2021 to file a lead plaintiff motion.

On February 26, 2021, Hindenburg Research ("Hindenburg") and Culper Research published reports regarding SOS, alleging that the Company was a "pump and dump" scheme that used fake addresses and doctored photos of crypto miners to create an illusion of success. The reports pointed out that SOS lists a hotel room as the company’s headquarters and questioned whether SOS purchased mining rigs from HY International Group New York Inc. ("HY"), which appeared to be a shell company. They also claimed that FXK Technology Corporation ("FXK"), which SOS announced it would purchase, was actually "an undisclosed related party shell." Moreover, the reports noted that the photographed SOS "miners" weren't the A10 Pros the company claimed to own but were actually Avalon's A1066 miners. Hindenburg went even further and found the original images from SOS's site belonged to a rival RHY.

On this news, the Company’s share price fell $1.27, or 21%, to close at $4.77 per share on February 26, 2021.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Comment26

  • NanOo
    ·2021-04-08
    Sos be up.. just bought my first option ??
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  • mcwood
    ·2021-04-07
    [得意] 
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  • etf29
    ·2021-04-07
    Confused
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  • Nachstratbe
    ·2021-04-07
    Tp 10?
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  • 琪琪_土豆
    ·2021-04-07
    To the moooooon ?‍♀️
    Reply
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  • AlphaKK
    ·2021-04-07
    It's yoyo time. Up and down, up and down.[鼓掌] 
    Reply
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  • FuNman168
    ·2021-04-07
    Shortist use this news to cover back & long SOS instead 
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  • Oth
    ·2021-04-07
    Weird things are happening, maybe used as a pump and dump
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    • doubleZ
      Nothing weird @Oth . Is just normal for stocks that are heavily base with insiders.
      2021-04-08
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    • Oth
      What?? O.O
      2021-04-07
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    • dandan_4896
      i love u
      2021-04-07
      Reply
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  • DOEE
    ·2021-04-07
    我們一切資訊都來源於媒體。他們製造了另外一個世界的假象,而真像是我們所不知道的。看看美國選舉看看新聞聯播。
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  • BigRobin
    ·2021-04-07
    Like and comment pls thanks 
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    • BigRobin
      ?✋
      2021-04-09
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    • BigRobin
      ?
      2021-04-08
      Reply
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    • BigRobin
      ?
      2021-04-08
      Reply
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    View more 2 comments
  • Hweeee
    ·2021-04-07
    amazing
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  • Zarkness
    ·2021-04-07
    Lawsuit against sos and its share price soar instead of dip. What’s happening?
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    • Zarkness
      Ya. Then its stock market we Are in. Confirmed
      2021-04-09
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    • Zarkness
      Lol
      2021-04-09
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    • anyhowtrade
      doesn't make sense to me too
      2021-04-07
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  • Altas
    ·2021-04-07
    Wow 
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  • nujnay
    ·2021-04-07
    comment pls thanks
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    • jijimoReplying topkycme
      Thank you
      2021-04-07
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    • jijimoReplying tonujnay
      Thank you
      2021-04-07
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    • jijimo
      Comment back please
      2021-04-07
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    View more 2 comments
  • Easonlin
    ·2021-04-07
    Don’t how this stock goes 
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  • Kkoh
    ·2021-04-07
    What happen? Any news on the surge?
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  • Jeremyyeojc
    ·2021-04-07
    Apes are here...another gme moment..hold on to your potatoes..
    Reply
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    Fold Replies
    • Nickeando
      Love the apEs [眼眼]
      2021-04-07
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  • Jeremyyeojc
    ·2021-04-07
    Apes are here...hold on to your potatoes...
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  • Jocyy
    ·2021-04-07
    Gogo
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  • howlhjustin
    ·2021-04-07
    Let’s goooo
    Reply
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