- The stock price of Sos Ltd (NYSE: SOS) increased by over 20% pre-market. This is why it happened.
The stock price of Sos Ltd (NYSE: SOS) increased by over 20% pre-market. Investors appear to be responding to a few viral posts on social media encouraging the buying of the company shares in order to squeeze short-sellers. There are posts that went viral on Reddit, Stocktwits, Discord, Facebook, and Twitter.
On Reddit, there is a post by user hkspeaks asking others to initiate a short squeeze over the next 5 trading days. That user noted yesterday that 20% of the Sos stock is short and asked others to remove all stop losses in order to coordinate the short squeeze.
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