STOCKS TELEGRAPH

Tag: NASDAQ:SPRT

  • How Did The SPRT Stock Rise 21% Afterhours?

    At last check, Support.com Inc. (SPRT) shares were up 21.39% to $8.40 in after-hours trading. The SPRT stock closed Tuesday’s session at $6.92, up 2.67%. SPRT closed with a volume of 5.65 million shares, well above the average daily volume of 3.46 million shares in the past 50 days. 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 shares outstanding. SPRT’s stock price rose in the absence of recent news, which allows us to draw more conclusions from recent developments.

    What’s been going on at SPRT Stock?

    A leading provider of customer support and technical support services, Support.com employs home-based employees to deliver services. SPRT has achieved outstanding results for global and top-tier clients for more than 20 years. In addition, SPRT’s omnichannel solutions are designed specifically for Homesourcing environments, resulting in NPS scores that are among the highest in the industry. Using its proprietary cloud-based systems and a highly scalable, global network of home-based employees, Support.com Inc. efficiently meets changing client needs.

    The Russell Stock Index reconstitutes its stock index annually, and Support.com recently joined the Russell Microcap Index as part of the reconstitution.

    • SPRT was added to the index on June 28, 2021.
    • As a member of the Russell Microcap Index, SPRT will automatically be included in the growth and value style indexes for one year.
    • Support.com Inc. membership is determined by market capitalization rankings and the style attributes of SPRT for FTSE Russell indexes.
    • It was an important milestone for Support.com Inc. for its continued development that it was included in the Russell Microcap Index.
    • As part of the broader investment community, the recognition provides Support.com Inc. with added visibility.

    The SPRT stock has gained more than 70 percent since it became a member of the Russell index.

    Launch of new service:

    Support.com also announced new services last month that provide 24/7 on-demand customer support to emerging fintech companies, cryptocurrency and NFT exchanges, wallet OEMs, and cryptocurrency exchanges. By leveraging its proprietary security software and deep institutional knowledge, Support.com Inc. will be able to meet rising market interest and demand for crypto-based customer support solutions, including SPRT’s Cloud Platform and Crypto Concierge service.

    How SPRT will be leveraging its capabilities?

    The Homesourcing model of SPRT combines a secure, cloud-based platform with integrated customer support tools to enable a rapidly scalable, always-on workforce capable of supporting business operations at all times. Support.com hires and onboards experts with the technical knowledge and skills required to support crypto and fintech services without geographical restrictions or brick-and-mortar facilities.

  • Support.com (NASDAQ: SPRT) stock plunged in the premarket trading session; here’s why

    Support.com (NASDAQ: SPRT) stock plunged in the premarket trading session; here’s why

    Support.com Inc. (SPRT stock) shares plunged 9.96% in the premarket trading session to trade at $3.93 at the last check. SPRT stock shed -13.21% to close previous session at $4.27. The SPRT stock is currently valued in the market at $93.30 million and has outstanding shares at 20.20 million.

    All you need to know about Support.com

    Support.com is a software company that specifically focuses on providing support solutions related to software technicalities as well as customer support. This company has a unique operational model where the employees work based from their home and primarily in the United States. The business model of the company consists of outsourcing its services related to the platform of cloud-based technology platforms and customer support. These outsourced services of the SPRT stock draw a client-base of vertical company clients including media, communication, retail, technology and healthcare that consist of voice, chat and self-service type omnichannel programs. The company also provides its outsourced tech support through a subscription option service that is directly applicable to consumers as well as small businesses. This tech support ranges from the medium and channel of smartphones, computers and other connected devices. It additionally gives SUPERAntiSpyware programming, a malware assurance and expulsion programming software; Guided Paths, which contains bit by bit self-support guides, with special focus to help clients settle issues; and service delivery management tools for tech-support, incorporates Support.com cloud-based programming capacities and other contact community applications, for example, client relationship management, guides for installment, and communication, which are coordinated into applications for its contact center trained professionals. The organization offers its types of assistance through partners, and through its site at www.support.com. Support.com, Inc. was consolidated in 1997 and is settled in Wilmington, Delaware.

    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. This merger announcement took place on 22nd 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.

    This deal allows Greeindge to expect to become the first ever publically traded bitcoin mining company which will have a fully functional and wholly owned power plant. However SPRT stock is trading today at around 4.6 million and has shed -13.21% in stock price due to the investigation into the merger. The investigation seeks to find if the deal truly was done in the favor of shareholders and whether it breached any federal securities law or fiduciary duties.

    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 4th June 2021 that it will be now accepting Bitcoin as payment since it has now launched an On-Demand fintech and cryptocurrency customer support.  This is an exceptional and rare niche to enter into the cryptocurrency space since the market is mainly concentrated in the bitcoin mining space which will require complementary crypto and fintech-services for administrative and operational services.