Why Bitcoin- And Ethereum-Related Stock SOS Limited Is Nosediving 20% Today

SOS Limited SOS shares are trading lower by 20.58% to $0.24 after the company announced an ADS ratio change from 1 ADS representing 10 ordinary shares to 1 ADS representing 500 ordinary shares.

SOS Limited says the effect of the ratio change on the ADS trading price on the NYSE is expected to take place at the opening of trading on July 6, 2022.

SOS Limited says, as a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the company gives no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than the ADS price on a proportionate basis.

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SOS is a company with artificial intelligence and blockchain as its core technologies.
According to data from Benzinga Pro, SOS Limited has a 52-week high of $3.61 and a 52-week low of $0.23.