Why SOS Limited's Shares Plunged 30% on Friday
Shares of SOS Limited (NYSE: SOS) fell as much as 30.3% in trading on Friday after a short-seller announced a position in the stock. Shares closed trading down 21%.
Hindenburg Research announced on Twitter that it is short the stock and thinks it's "an obvious China-based shell game." The firm highlighted that the company's stated headquarters is a hotel, among other claims.
Image source: Getty Images.
Source Fool.com
