Seeking Alpha
2021-09-09 18:10:31

Support.com stock looks to add to gains after breaking September slide

Shares of retail favorite Support.com (NASDAQ:SPRT) +4.5% are on track to make it two up days in a row after seeing only red through the start of the month. The stock jumped 20% yesterday after losing nearly 50% from August 30 to Sept. 7. SPRT soared last month on its deal to take Bitcoin miner Greenidge Generation public. Shareholders will vote on the merger at the end of this week. Interest in the stock on the WallStreetBets subreddit has waned and the stock wasn't mentioned in any comments in the last 24 hours, according to data from Quiver Quantitative. Former hedge fund manager Will Meade, who tweets often on meme stocks, says "with 61% short interest (Support.com) can easily go back to $50 if it sees volume today." But Ihor Dusaniwsky, head of predictive analytics at S3 Partners, said earlier this month short interest in SPRT isn't enough to cause a squeeze.

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