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.
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 .
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Why SOS Limited Stock Pulled Back Today