China's SOS denies allegations by short-sellers, U.S. shares jump

Deoleo SA

01/03/2021 14:45

** U.S.-listed shares of Chinese blockchain firm  SOS.N 
surge 26.2% to $6.02 in early trading 
    ** SOS, which has gained more than three-fold this year, is
on track to snap its 5-day losing streak
    ** Claims against co by short-sellers Hindenburg Research
and Culper Research were "distorted", "misleading", and
"unsubstantiated" - SOS  urn:newsml:reuters.com:*:nL3N2KZ3BR
    ** Shares dropped ~21% after Hindenburg Research and Culper
Research said on Friday they had taken a short position on the
co  urn:newsml:reuters.com:*:nL4N2KW53V
    ** SOS claims that social media accounts of some board
members may have been briefly disabled or impersonated
    ** "These attacks were purposefully designed to manipulate
the price of the company's shares, with the aim of causing a
stock price decline in order to economically benefit the short
sellers" - SOS
    ** Shares up ~156% in past 12 months, as of last close

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))