“What appears to be happening is a classic short squeeze. Support.com’s short interest as a percentage of its total float on the 13 August reporting date was 67%” –Paul Ebeling
Support.com (SPRT) erupted out of nowhere this month and is suddenly stealing the Reddit-crowd’s affection. And for good reason: It’s fast pushing GameStop aside. Shares of Support.com are up 1,583% YTD. That puts it ahead of the 1,041% YTD rise of GameStop (GME).
Monday, SPRT stock is up 9.78, or nearly 40%, to 36.10. Shares are up more than 200%, just in the past month.
And now, Support.com is the No. 2 top stock among all the stocks in S&P 1500 and S&P Completion indexes this year. And it’s making a run at the No. 1 spot still hung onto by AMC Entertainment (AMC) with its 2,017% gain this year.
Friday saw a share price gainer of more than 41% for Support.com Inc. (NASDAQ: SPRT). The stock traded up for a 4th session running, and Thursday’s gainer was the larger. Apparently, that was just a warm-up. Support.com’s stock traded up more than 170% (at 53.82) in Friday’s premarket after setting a new 52-wk high of 19.99 Thursday. Shares jumped nearly 26% Monday, 4.5% Tuesday and nearly 20% Wednesday. Thursday’s trading volume topped 100-M shares, more than 11X the daily average of about 9-M.
SPRT is trading pre-market Monday at 35.20 +39.69%. The stock broke out on 15 July at 4.14 and confirmed on 27 August at 26.33/share. Thus, triggering an LTN Cash Pile speculative Buy signal with a near term price target of 55/share.
The Key support is at 11.06 and the Key resistance, is at 26.33, our tecchnical indicators are Very Bullish, but the stock i over bought in here.
Support.com, Inc. provides customer and technical support solutions through home-based employees primarily in the United States.
The company offers outsourced customer support and cloud-based technology platforms to clients in verticals, such as media and communication, healthcare, retail, and technology with omnichannel programs that include voice, chat, and self-service; technical support programs to enterprise clients; and subscription-based tech support service direct-to-consumers and small businesses that helps users solve a range of technology problems with computers, smartphones, and other connected devices, including device setup, troubleshooting, connectivity or interoperability problems, and malware and virus removal, as well as wireless network set-up, and automation system onboarding and support services.
It also provides SUPERAntiSpyware software, a malware protection and removal software product; Guided Paths, which contains step-by-step self-support guides, with decision points to help customers resolve problems; and service delivery management tools for technology support services, includes Support.com cloud-based software capabilities and other contact center applications, such as customer relationship management, ticketing, ordering, methods of payment, and telephony, which are integrated into applications for its contact center specialists.
The company provides its services through partners, as well as its website at www.support.com. Support.com, Inc. was incorporated in Y 1997 and is HQ’d in Wilmington, Delaware.
Have a prosperous week, Keep the Faith!
