What will happen to my SPRT stock?
Remember SPRT stock? That's gone now, but no worries. Tech support specialist Support.com is still here – it's merged with Greenidge Generation (NASDAQ:GREE) and as a result, you can now trade GREE stock instead of SPRT.Sep 23, 2021
Why is SPRT stock down?
SPRT shares dropped sharply by over 38% on Tuesday as the impending merger with Greenidge Generation (GREE) was completed and the combined entity will start trading under the ticker GREE today.Sep 15, 2021
What will happen to my SPRT stock after merger?
What Will Happen To My Money With SPRT During The Merge? Your money will either be unchanged or you will see positive gains once the merge has been finalized. This will highly depend on how well this merge does in the markets. SPRT last traded closer to $12 per share.Sep 15, 2021
Is SPRT a buy or sell?
A yield of 8.57% also means 8.57 cents of earnings for $1 of investment....Momentum Scorecard. More Info.Zacks RankDefinitionAnnualized Return1Strong Buy24.93%2Buy18.44%3Hold9.99%4Sell5.61%2 more rows
Who bought SPRT stock?
Greenidge Generation Holdings Inc.sprt tumbled 16.5% in afternoon trading Friday, after soaring 34.8% over the past two sessions, after the customer and technical support services company said it shareholder approved the deal to be acquired by bitcoin mining company Greenidge Generation Holdings Inc.Sep 10, 2021
Is GREE a buy?
Out of 1 analyst, 1 (100%) are recommending GREE as a Strong Buy, 0 (0%) are recommending GREE as a Buy, 0 (0%) are recommending GREE as a Hold, 0 (0%) are recommending GREE as a Sell, and 0 (0%) are recommending GREE as a Strong Sell. What is GREE's earnings growth forecast for 2022-2024?
Is SPRT going to merge?
In breaking news from Wall Street today, investors received an update on a highly anticipated merger that fans of both digital human resources and blockchain technology have been following. Support.com (NASDAQ:SPRT) has confirmed that shareholders have voted to approve its merger with Greenidge Generation Holdings.Sep 10, 2021
What's the stock price of SPRT?
11.80Key Turning Points52-Week High59.69Fibonacci 50%30.65Fibonacci 38.2%23.80Last Price11.8052-Week Low1.621 more row•Sep 14, 2021
What does the company SPRT do?
Its specific focus is on helping enterprises switch over to work-from-home settings for their employees. The company's services are supported by its own work-from-home agents that are available 24/7 every day of the year.Mar 22, 2021
Is support Com a good stock buy?
As I've discussed in previous columns, Support.com may be the best crypto mining stock out there. At today's prices, however, much of its positive attributes are already priced into the shares. Some may believe that the stock will hold steady or surge higher as Bitcoin prices climb.Sep 13, 2021
Key Points
The meme stock is losing ground following shareholder approval of its merger with Greenidge Generation.
NASDAQ: SPRT
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What happened
Shares of Support.com ( SPRT ) are getting crushed Tuesday, trading down roughly 29.5% as of 2:20 p.m. EDT. Today's massive sell-off comes on the heels of a nearly 10% decline for the company's share price in Monday's trading.
So what
Support.com has attracted attention from investors on Reddit's WallStreetBets forum seeking to trigger a short squeeze and benefit from the potential merger between it and Greenidge Generation, and its share price had surged as buyers poured into the stock.
NASDAQ: SPRT
Support.com shareholders voted on the company's proposed merger with Greenidge on Sept. 10 and came out in favor of the combination of the businesses. Some investors may have been holding out for the potential merger as a new catalyst to send Support's stock higher, but that doesn't appear to be panning out.
Now what
Investors hoping to bank a quick profit appear to be moving out of positions in Support.com stock. For those still waiting on a renewed short squeeze, one potential bit of good news is that short interest in the stock is rising substantially again.
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Investigations against SPRT stock
Things were gloomy for SPRT stock and the recent announcement of investigations against SPRT stock by law firms contributed more pain to the falling stock price.
Merger Agreement
On March 22, 2021, Support.com did sign a merger agreement with bitcoin mining company Greenidge Generation Holdings Inc according to which, SPRT shareholders would receive 0.124 shares of Greenidge common stock for every owned share of Support.com common stock.
Financial Overview
In the third quarter of 2020, SPRT stock generated $10.3 million in revenue which was 32 percent less than the same quarter of the prior year. The loss was mainly due to the migration of its services to another country.
Conclusion
Things are going against the SPRT stock as far as market sentiment is concerned. Let’s see how the management of Support.com will react to these investigations. If things become settle, then there are chances for the SPRT stock to perform well in the future. Hence investors need to be aware of any single circumstance related to SPRT stock.
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In relation to fundamental analysis of stocks, what would you like to know?
If you really want to analyze stocks for investment, especially long-term, then you must know the basics to analyze a stock. For doing a fundamental
SPRT Short Interest & Utilization
I want to begin by saying that I personally took a position in SPRT stock when I saw that the short interest was at 75%. The utilization was around 90 and I decided to park some money in this momentum play.
SPRT Short Squeeze Prediction
A lot of retail investors who caught SPRT early took profits from the pump to our beloved AMC or GME plays. Kudos to you!
Theory on why the short position is not covering!!
TL,DR: The major short HF is not covering because they have a hedge with Series A stock but the hedge only works post-merger. If we squeeze them to a stock price where they can no longer meet their margin requirement BEFORE the merger, the MOASS will take place.
AMC APE JOINING THE PARTY!!
What up SPRT gang. I joined you guys on the ride to the moon. As a January AMC ape I know how to hold. Im excited for this one you smoothed brained apes. Lets ride!!!
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