Why Bitcoin- And Ethereum-Related Stock SOS Limited Is Falling
Sos Ltd – ADR SOS shares are trading lower by 6.76% at $0.55. Shares are likely falling due to profit-taking after Monday’s rally. SOS Limited on Monday reported FY21 sales of $358.042 million, versus $50.317 million in FY20. SOS Limited also saw FY21 gross profit of $21.07 million, versus gross profit of $12.994 million in FY20.
SOS Limited says the company started generating revenue from mining pools in February 2021 and mined 174.28 units of BTC and 2,770.09 units of ETH by the end of the second quarter.
In July 2021, due to the Chinese government’s ban on certain types of cryptocurrency mining activities, SOS Limited shut down the company’s mining operations in China and began transitioning crypto mining operations to the U.S. The company launched its U.S. mining operations in Wisconsin this April.
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SOS Limited is engaged in the provision of emergency rescue business providing emergency healthcare services, emergency roadside assistance, emergency living assistance and other rescue services in China.
According to data from Benzinga Pro, SOS Limited has a 52-week high of $4.73 and a 52-week low of $0.38.