SOS rallies after Scorpio questions shorts, gives stock $40 valuation

Scorpio Venture Capital questioned the validity of the short reports on SOS Limited and gave the stock a $40 valuation in a research report. The company calls itself a "blockchain-based and big data-driven marketing and solution provider." The stock in late morning trading is up 12%, or 77c, to $7.55. "With the popularity of COVID-19 vaccine and economic recovery in 2021, it is believed that SOS will be able to implement the acquisition of national insurance brokers as soon as possible," Scorpio wrote. The firm also believes SOS's cryptocurrency sector will "achieve excellent results under the leadership of Dr. Yan Huazhong."