SOS (NYSE:SOS) Stock Makes a Strong Comeback: How Far Can it Go?

Shares of SOS (NYSE:SOS) surged on 21st July, 2021 with traders on social media taking notice of the firm resulting in an upward movement. The interest is not just on Reddit but also for traders on Twitter who have been discussing the stock

This has also lead to higher volumes on the company’s trades, with over 17 million changing hands as compared to the average daily trading volume of close to 16 million. SOS shares surged by 13% by the afternoon trade and have seen a jump of 91.7% since the year’s beginning.

The company, a leading international service provider enabling users with effective emergency rescue through satellite and internet communications, was being discussed extensively by twitter users, who opined that the stock still has room to move up.

QuietStorm MK, a twitter handle said that Hindenburg only shorts goldmines. The user added that everything shorted plummets and then witnesses a sudden rise by 500%-1000% and that it would be good to play a waiting game.

Market Reaction:

On Wednesday, SOS stock moved up 11.50% at $2.73 with more than 25.88 million shares, compared to its average volume of 16.02 million shares. The stock has moved within a range of $2.5800 – 2.8800 after opening the trade at $2.68. Over the past 52-week, the stock has been trading within a range of $1.2100 – 15.8800.