Seeking Alpha
2021-09-14 10:53:36

Support.com stock under more pressure with short interest topping 70%

Meme stock Support.com (NASDAQ:SPRT) is down premarket after a 9% plunge yesterday, with the fee to borrow shares to short soaring. Shares are off 5% before the bell. The company gained attention from the retail crowd, bringing the buzz of crypto and ESG together, as it looked to bring green Bitcoin miner Greenridge Generation Holdings public via a merger. Shareholders approved the deal on Friday. The stock sold off yesterday, but is still up more than 750% year to date and up 115% from when the surge really started at the end of August. And demand for shares to short the stock is building, with fees hitting 150% to borrow shares. Support.com (SPRT) short interest is at $149M, with 7.1M shares short, more than 71% of the float, tweets Ihor Dusaniwsky, managing director of predictive analytics at analytics firm S3 Partners. "Shares shorted up +279K shs, worth $6M, 4.09%, over the last

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