Welcome to our dedicated page for SPRT news (Ticker: SPRT), a resource for investors and traders seeking the latest updates and insights on SPRT stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SPRT's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SPRT's position in the market.
On September 14, 2021, Greenidge Generation Holdings closed its merger with Support.com, now operating as a subsidiary. Greenidge's stock will trade as "GREE" on NASDAQ. This merger positions Greenidge as the first publicly traded Bitcoin miner and power generation company in North America. Shareholders of Support.com will receive 0.115 shares of Greenidge stock for each share held. Greenidge aims to expand its carbon-neutral Bitcoin mining operations, including a new facility in South Carolina.
Support.com (NASDAQ:SPRT) and Greenidge Generation Holdings announced an update on their pending merger, expected to close on September 14, 2021. Each Support.com share will be converted into 0.115 shares of Greenidge Class A common stock, along with cash for fractional shares. Following the merger, Greenidge shares will trade under the ticker symbol GREE starting September 15, 2021. This transaction is anticipated to enhance Greenidge's operational capabilities and market position within the cryptocurrency sector.
LOS ANGELES, CA / ACCESSWIRE / September 10, 2021 / Support.com (NASDAQ:SPRT) announced stockholders approved all proposals for its merger with Greenidge Generation Holdings Inc., a bitcoin mining and power generation company. CEO Lance Rosenzweig expressed gratitude for stockholder support and anticipates growth opportunities following the merger. Support.com plans to file a Form 8-K detailing voting results and will announce the merger's closing date and exchange ratio soon.
Support.com, Inc. (NASDAQ:SPRT) reported its second-quarter financial results for 2021, revealing total revenues of $8.5 million, a 23% decline from $11.0 million in Q2 2020 and a 12% decrease from $9.6 million in Q1 2021. The company incurred a net loss of $0.8 million or ($0.03) per share, down from a net income of $0.6 million in Q2 2020. Gross profit stood at $3.0 million with a 35% margin. Operating expenses rose to $3.9 million, despite a drop from Q1 2021. Cash reserves increased to $38.5 million as of June 30, 2021.
Support.com, Inc. (NASDAQ:SPRT) announced an update regarding its merger with Greenidge Generation Holdings Inc.. A special meeting for stockholders is scheduled for September 10, 2021, to vote on the merger. To proceed, more than 50% of outstanding shares must be approved. Stockholders who were on record as of July 26, 2021, are eligible to vote. Proxy materials are being sent to these stockholders, and they are urged to submit votes promptly. Further details can be found in the proxy statement available through SEC filings.
Support.com (NASDAQ:SPRT) has launched Homesourcing℠ Cloud, a proprietary cloud-based platform designed to enhance its technical support services for a globally distributed workforce. This platform includes tools such as ExpertToolkit℠, SecureHub℠, and ExpertCRM℠, aimed at improving customer support capabilities. The launch responds to the growing complexity of technology in households and businesses, with a report indicating that the average U.S. household now has over 25 connected devices. Support.com aims to provide scalable and continuous support through its unique models and global expert network.
Support.com (NASDAQ:SPRT) has been added to the Russell Microcap Index, effective June 28, 2021. This inclusion signals significant visibility within the investment community, as Russell indexes are benchmarks for over $10.6 trillion in assets. CEO Lance Rosenzweig highlighted this milestone as a key evolution for the company. Membership provides automatic inclusion in relevant growth and value style indexes, potentially affecting investment strategies and perceptions among institutional investors.
Support.com (NASDAQ:SPRT) announced new services to meet the rising demand for customer support in the fintech and cryptocurrency sectors. With the total market capitalization of cryptocurrency nearing $2 trillion, the company will provide 24/7 support through its Homesourcing Cloud Platform and Crypto Concierge service. These offerings aim to enhance customer education and support during market fluctuations. Additionally, Support.com will now accept bitcoin as payment from business customers, demonstrating its commitment to digital assets.
Support.com (NASDAQ:SPRT) reported a first-quarter 2021 revenue of $9.6 million, down 19% year-over-year. The company experienced a net loss of $2.0 million, translating to $0.10 per share, compared to a net income of $0.3 million in Q1 2020. Operating expenses rose to $5.6 million due to $1.5 million in merger-related costs as it prepares for its acquisition by Greenidge Generation Holdings. As of March 31, 2021, cash equivalents totaled $39.0 million, up from $28.4 million a year prior. The merger is expected to close in Q3 2021, pending shareholder approval.
Support.com (NASDAQ: SPRT) announced the addition of two executives to its leadership team: Andrew Latimer as Chief Information Officer and Doug Tackett as Chief Legal Officer. Latimer, with over 20 years of IT and BPO experience, previously worked at Aegis PeopleSupport, managing IT for 50,000 employees. Tackett brings extensive legal experience from global companies, including leadership roles at Startek. The company aims to enhance its global footprint, providing high-quality customer support and home-based opportunities.
