Support.com Inc. (SPRT) shares surged 6.15% in after-hours on Friday, August 27, 2021, and closed the weekly trading at $27.95. In the regular trading session of Friday as well, SPRT’s stock gained 33.65%. SPRT shares have risen 1153.81% over the last 12 months, and they have moved up 198.86% in the past week. Over the past three months, the stock has gained 833.69%, while over the past six months, it has skyrocketed 1113.36%.

Let’s have a brief discussion about its recent news and developments.

SPRT recent financial results announcement

On August 13, 2021, Support.com, Inc (SPRT) reported unaudited financial results for its second quarter ended June 30, 2021.

Q2 2021 financial highlights

• SPRT reported total revenue of 8.5 million for Q2 2021 compared to $11.0 million in the second quarter of 2020.
• In Q2 2021, the gross profit was $3.0 million compared to $3.9 million in Q2 2020.
• Operating expenses were $3.9 million in Q2 2021, compared to $3.4 million in Q2 2020.
• It suffered a net loss of $0.8 million, or $0.03 per share, in the second quarter of 2021, compared to net income of $0.6 million, or $0.03 per share, in the second quarter of 2020.
• The company had cash, cash equivalents, and short-term investments of $38.5 million on June 30, 2021, compared with $29.7 million on June 30, 2020.

SPRT merger update

On August 12, 2021, Support.com, Inc. (SPRT) provided an update on the merger transaction process with Greenidge Generation Holdings Inc.

Support.com and Greenidge entered into an agreement on March 19, 2021, for the acquisition of Support.com by Greenidge in a merger transaction. Now Support.com has scheduled a special meeting of its stockholders to be held on September 10, 2021, at 8:00 a.m. to approve the proposed merger.

SPRT launched a new technical platform

On August 4, 2021, Support.com, Inc (SPRT) announced the launch of a new platform, Homesourcing℠ Cloud, to expand its technical support services. Homesourcing℠ Cloud is a secure, proprietary cloud-based platform supporting a globally distributed workforce. It gives home-based experts access to a suite of tools that allow them to solve even the most complex problems.

SPRT induction on Russell Microcap Index

Support.com, Inc (SPRT) announced that as part of the annual reconstitution of the Russell stock indexes, Support.com joined the Russell Microcap® Index, effective on June 28, 2021, according to the FTSE Russell website.

SPRT New On-Demand Fintech & Cryptocurrency Customer Support

On June 3, 2021, Support.com, Inc announced new reliable and 24/7 on-demand customer support for emerging fintech leaders, cryptocurrency and NFT platforms, exchanges, and wallet OEMs.

The new service will solve customer and technical support issues and provide education around cryptocurrency and financial services.

Conclusion

Well, as of this writing we have no latest news which could be the reason behind its top-notch performance on Friday. We expect it to continue its momentum after the weekend as well.