Why is SPRT Stock Going Up? For one, the company recently announced a reverse merger with Greenidge Generation Holdings. Greenidge is a 100% carbon-neutral Bitcoin transaction processor based in the U.S.
Full Answer
Is SPRT stock getting ahead of itself?
Jul 28, 2021 · Since the beginning of the year, Support.com Inc. shares have risen by 373.97%, and the stock has moved up by 53.44% in the past seven days. The SPRT stock gained 88.56% over the past three months, but it lost 214.55% over the past six months. Moreover, Support.com Inc. currently has a market capitalization of $148.51 million and has 20.20 million enumerated …
Is SPRT stock a Buy amid a wave of merger headline risk?
Jul 08, 2021 · This merger announcement took place on 22 nd March 2021 – on a Monday which caused the trading volume of the SPRT stock to triple on the same day. This trading volume was a 7-year high massive jump to 282.6 million and the stock surged to the moon by a triple digit increase of 231.8% since September 2014.
What will happen to SPRT’s EBITDA after the merger with Greenidge?
Aug 26, 2021 · Now what. The escalating share price and the resulting short covering become a self-fulfilling prophesy, driving shares ever higher. …
Can the charts provide guidance on SPRT?
May 05, 2022 · View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Stock Ideas and Recommendations. Get daily stock ideas top-performing Wall Street analysts.
What is causing the lawsuit filing and investigations on Support.com?
Support.com and SPRT stock has been flagged for the past 3 months by class-action lawsuits regarding investigation into the merger that Support.com was a part of. This merger included the acquisition of Support.com by Greenidge Generation Holdings Inc. which is a bitcoin mining company.
The operations of Support.com remain undeterred
However this has not disrupted business expansion and operational growth of the company as it continues to make transformation adhering to the merger. The company announced on 4 th June 2021 that it will be now accepting Bitcoin as payment since it has now launched an On-Demand fintech and cryptocurrency customer support.
What happened
Shares of Support.com (NASDAQ: SPRT) surged higher on Thursday, climbing as much as 43.2% earlier in the session, ultimately ending the trading day up 41.1%. That's not all.
So what
While there was no specific news regarding Support.com today, there are a couple of tailwinds that have been driving the stock higher.
Now what
The escalating share price and the resulting short covering become a self-fulfilling prophesy, driving shares ever higher. The combination of high short interest and the fervor surrounding cryptocurrency was enough to drive Support.com into the stratosphere today.
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Support.com Media Sentiment
Each headline receives a score ranging from 2 (good news) to -2 (bad news). Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press.
Media Coverage
We track news headlines from hundreds of news outlets and tag them by company. This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week.
Support.com (NASDAQ SPRT) News Headlines Today
Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm.
SPRT Stock Chart Details Matter
Most recently they announced a merger with Greenidge generation holdings. To add to the confusion, the acquiring company is a Bitcoin (CCC: BTC-USD) miner. New investors have to contemplate another variable going into Sept. 10. That’s when Support.com shareholders will vote on the buyout by Greenidge.
Hopium Kills Folios
Moreover, there is too much hopium in the stock. Those buying shares up here for an investment are giving it six years worth of sales credits. This was less than one year in 2017. When investor expectations are this high, it is a great recipe for disappointment. If the headlines come out to be less than ideal, they could throw a hissy fit.
What stocks does MarketBeat like better than Support.com?
Wall Street analysts have given Support.com a "N/A" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but Support.com wasn't one of them.
Are investors shorting Support.com?
Support.com saw a increase in short interest in July. As of July 30th, there was short interest totaling 5,820,000 shares, an increase of 13.5% from the July 15th total of 5,130,000 shares. Based on an average daily trading volume, of 3,960,000 shares, the short-interest ratio is presently 1.5 days.
When is Support.com's next earnings date?
Support.com is scheduled to release its next quarterly earnings announcement on Thursday, November 4th 2021.#N#View our earnings forecast for Support.com.
How were Support.com's earnings last quarter?
Support.com, Inc. (NASDAQ:SPRT) issued its quarterly earnings results on Wednesday, August, 9th. The technology company reported ($0.01) earnings per share for the quarter. The technology company earned $14.51 million during the quarter.
How has Support.com's stock price been impacted by Coronavirus (COVID-19)?
Support.com's stock was trading at $1.02 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, SPRT shares have increased by 2,170.6% and is now trading at $23.16.#N#View which stocks have been most impacted by COVID-19.
What is Lance Rosenzweig's approval rating as Support.com's CEO?
12 employees have rated Support.com CEO Lance Rosenzweig on Glassdoor.com. Lance Rosenzweig has an approval rating of 37% among Support.com's employees. This puts Lance Rosenzweig in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.
Who are some of Support.com's key competitors?
Some companies that are related to Support.com include Facebook (FB), SEA (SE), Equinix (EQIX), Twitter (TWTR), eBay (EBAY), CoStar Group (CSGP), VeriSign (VRSN), Akamai Technologies (AKAM), Opendoor Technologies (OPEN), J2 Global (JCOM), Stamps.com (STMP), Angi (ANGI), SPS Commerce (SPSC), LivePerson (LPSN) and Envestnet (ENV).#N#View all of SPRT's competitors..
A Closer Look at SPRT Stock
Maybe I’m just bitter because I miss the good old days, when SPRT stock traded in a predictable range between $2 and $3. That range held firm from 2016 until just a few months ago.
Think Before You Buy
But here’s the thing. I looked under the hood and saw that Support.com’s trailing 12-month earnings per share is -10 cents.
A Jarring Transition
As I just stated, Support.com’s shareholders will need to approve this merger. Yet somehow, it still feels as if this is all happening whether the owners of SPRT stock like it or not.
A Merger Sparked Its March Rise
In previous months, the stock traded below $5 and was thus a penny stock, which arguably contributed to the March surge. The volume of the stock is indicative of this, as by that point it was an average of less than 150,000. Suddenly, on March 22, the volume surged to 282 million.
Is Its Business Model Shifting or Changing Entirely?
The next day for big news on Support.com is Sep. 10, when the shareholders will meet to approve this pending deal.
SPRT Stock Earnings and Financials
In the second-quarter of 2021, Support.com’s financial results were not encouraging. Total revenue decreased to $8.5 million, a 23% decrease year-over-year.