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Why SOS Limited Stock Skyrocketed Today

TheMotleyFool

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Shares of SOS Limited (NYSE: SOS) soared 28% Wednesday after the Chinese blockchain services company appeared to become the WallStreetBets Reddit Group's latest short-squeeze target.

SOS Limited is attempting to become a powerful force in the Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) mining arena. The company recently raised $125 million via a share and warrant offering to buy cryptocurrency mining rigs and fund the construction of a new facility in Hejiang County, Luzhou, Sichuan.

SOS Limited's shares surged Wednesday. Image source: Getty Images.

Source Fool.com

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