Why Shares of SOS Limited Jumped 21.7% on Friday
Shares of cryptocurrency stock SOS Limited (NYSE: SOS) jumped as much as 21.7% in trading early on Friday after announcing preliminary six-month results for 2021. Shares fell from their high of the day but were still up 10.1% at 2:15 p.m. EDT.
Management said that revenue jumped more than 17 times in the first six months of the year to $184.5 million, and gross profit rose from $0.08 million to $17.2 million. However, operating loss was still $20.4 million as stock and legal expenses weighed on results.
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Source Fool.com
