Sos Ltd – ADR (NYSE:SOS) shares are trading lower by 8.18% at $0.33. Shares of Chinese companies are trading lower in possible reaction to US President Biden’s recent unveiling of the Indo-Pacific Economic Framework to counter China’s influence in the region.
Several Chinese stocks have also seen marked weakness in 2022 and are trading lower amid a COVID-19 outbreak in the country which has caused some business operations to cease. The IMF in April downgraded China’s growth forecast to 4.4% from 4.8%, citing pain from its coronavirus restrictions.
See Also: Why Pinterest Shares Are Sliding Today
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 $4.36 and a 52-week low of $0.33.
