Why SOS Limited Stock Pulled Back Today

By newsfeedback@fool.com (Jon Quast)2 days ago


What happened

Shares of SOS Limited (NYSE:SOS) pulled back on Thursday. The stock had rallied the day before, and some traders hoped it was just the start of a bigger move. But yesterday's rally appears to already be fizzling out with SOS stock down 7% as of 1 p.m. EDT.

So what

On Wednesday, the price of popular cryptocurrency Bitcoin was down, causing the stocks of Bitcoin miners to fall as well. These include companies like Marathon Digital Holdings, Riot Blockchain, and The9. SOS is usually part of this list. However, SOS stock skyrocketed 28% higher yesterday as a group on Reddit tried to spark a short squeeze.

Image source: Getty Images.

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