Tag: SPRT Short Squeeze

What Does An SPRT Merge With Greenidge Mean For Retail?

SPRT Gree merge

If you logged in to your broker account to see SPRT stock not showing up do not worry. SPRT is undergoing the merger transition with Greenridge, ticker symbol GREE.

The combined company will trade under GREE moving forward. Lets discuss what this will mean for SPRT shareholders.

franknez.com

Welcome to Franknez.com – SPRT stock has been declining but there’s great news on the horizon. If you’re still holding SPRT stock and are facing losses, chances are you can still profit from the merge.

Lets get started!

SPRT Merges With Greenidge

SPRT merged with Greenidge Generation Holdings, a Bitcoin mining company on Tuesday, September 14th. SPRT stock is supposed to be trading under ticker symbol GREE as of Wednesday, September 15th but I assume most people will see the activity change the next trading day.

According to Market Realist, investors won’t be able to access SPRT stock because current shareholders’ shares will convert to the new “GREE” stock symbol at the ratio agreed upon in the merger.

GREE stock is currently trading above $40 per share. The talk is this merge will either make or break SPRT stock.

Common stock shares of Support.com will be canceled and automatically converted, providing the right to receive 0.115 shares of the new Greenidge Class A common stock.

What Will Happen To My Money With SPRT During The Merge?

Your money will either be unchanged or you will see positive gains once the merge has been finalized. This will highly depend on how well this merge does in the markets.

SPRT last traded closer to $12 per share. GREE is trading in the mid $40s. GREE stock is up much higher which means SPRT shareholders may have just multiplied their base-worth.

How Many Shares Will I Have Of GREE Stock After The Merge?

According to SeekingAlpha, the conversion is 1 share of Greenidge for about 8.7 shares of SPRT stock. So although shareholders will have less shares after the merge is complete, there is still hope.

Here’s why I’m bullish on GREE stock.

With the price climbing to the mid $40s, it could put pressure on shorts to cover their positions. Granted, the short interest is still unavailable. However, the stock that was SPRT was still borrowed and must be repaid.

The second reason I’m bullish is because even if shorts have no incentive to cover, you are now investing in a blockchain company. Blockchain companies are going to be the future of security so investing in GREE could prove to be a great long term investment.

Greenidge is also working on a ton of amazing projects that are going to compound as they continue to improve the way our world runs with the latest technology.

My personal take is that if we squeeze shorts from their positions, great! Otherwise, I will be buying this blockchain stock and holding it strong as a long-term play.

I’m excited.

Should You Sell Your GREE Stock?

I’m personally not selling this pot of gold. In fact, I’m buying. Visit Greenidge’s website to see what value they’re going to be bringing to our generation.

It’s companies like these that you want to catch early before they blow up a year, two, and even a decade later.

I’m going to be publishing a new article on GREE stock so be sure to subscribe to the newsletter to be notified when it’s out.

And lastly…

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I’d love to know your thoughts on this merge. Will you be holding, will you be selling? Let me know you thoughts in the comment section below. Lets talk about it.

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SPRT Stock Has The Perfect Setup For A Short Squeeze

SPRT Stock Short Squeeze
SPRT Short Squeeze

Many of you might be wondering what happened to SPRT. The stock climbed before plummeting back down. Even today the stock continues to trend downwards.

If you’re holding SPRT stock for a short squeeze, don’t worry. Some retail investors cashed in and shorts continue to massively short it. But the data doesn’t lie.

Franknez.com

Welcome to Franknez.com – if you’re subscribed to the YouTube channel then you saw my announcement about this particular article. Today I’m going to discuss SPRT stock and its short squeeze potential.

Lets get started!

Disclaimer: this is not financial advice but merely my opinions based on the data that is out there. I am a strong believer in the data and so it is my duty and obligation to share it with you.

SPRT Short Interest & Utilization 🚨

I want to begin by saying that I personally took a position in SPRT stock when I saw that the short interest was at 75%. The utilization was around 90 and I decided to park some money in this momentum play.

I’ve been tracking the short interest data to see whether I had made a bad investment and should cut my losses, or whether this power play was only the beginning.

It turns out that although SPRT stock has been taking a nosedive, both the short interest and utilization have skyrocketed!

The current short interest at the time of this publication is: 93.52%

Utilization is at: 96.41

For daily updates on the short interest, bookmark this article here.

Ladies and gentlemen, shorts have not fully covered their positions in SPRT.

Why Is SPRT Stock Going Down?

We have a selloff going on right now with some retail investors still holding some, or all of their stock. Shorts continue to attack the stock in efforts to make money as investors also take profits.

We saw SPRT go below $20 and retest above it again. It’s still too early for me to identify whether this will be a new resistance level or perhaps a new floor.

What I can tell you however is that as the stock price has gone down, the short interest data has surged. This tells me new shorts are getting in on SPRT and perhaps even doubling down on their positions.

SPRT Short % of Free Float

SPRT short percent of free float

On the latest updated short interest history data from Ortex we can see that the short percentage of the free float has been steadily increasing all year.

And although we can’t see the settlement date for September yet, we know from the short interest and utilization alone that this number is only increasing.

So what the guys who discovered this play really did is just expose this ‘other‘ short squeeze play.

This article is not to tell you to jump in on this play. But rather to let you know that if you’re holding this stock and are negative, don’t cut your losses because there’s a strong possibility this stock can jump back up.

Since the short interest continues to skyrocket, I will be holding my position in SPRT. I would have cut my losses if the short interest data was plunging.

If the SI was continuously going down it would let me know that shorts were getting out of their positions, or the stock wasn’t being heavily shorted anymore.

But when the short interest is this massively high, retail has the power to squeeze shorts from their positions.

SPRT Short Squeeze Prediction

A lot of retail investors who caught SPRT early took profits from the pump to our beloved AMC or GME plays. Kudos to you!

Personally, SPRT is a side mission like it was for many of you. My main play is AMC and I continue to buy AMC. If you’re on my Patreon, you get notified when I add to my position on any play.

If we look at the data from AMC and GME, we’ll find that these plays will have moments of consolidation, upward trends, new floors, and repeat.

Looking at the SPRT stock chart, we can see this pattern too.

Retail has the power to bring heavily shorted companies back to life. SPRT had an IPO price of about $90 per share when it first became publicly traded.

Short sellers have been shorting this stock for years. Their increased positions signals they feel threat from retail investors. Our community is the biggest threat to short sellers right now, and moving forward.

I believe squeezing shorts out of their positions can easily put SPRT stock above $100 per share.

Should You Buy SPRT Stock?

If you’re looking to diversify your momentum plays with another high short interest stock, SPRT could prove to be a profitable trade in the long run.

The float is smaller than AMC’s and GME’s, the short interest is higher, and there’s absolutely opportunity to make money here, at least according to the data.

I’m personally just holding my position in SPRT for now. If add to my position, it will be after I add to AMC or crypto first.

Are you holding SPRT for a short squeeze?

Franknez.com

What’s your SPRT story? I’d love to know. Did you get in on the stock early, after the runup? Do you have more information I don’t? Leave a comment below.

But before you do that, I want to say thank you for taking the time to read the blog and I appreciate you being here.

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SPRT Stock Is About To Squeeze: Get Ready

SPRT Stock Short Squeeze
SPRT Short Squeeze

SPRT stock is up more than 860% year-to-date and is getting ready to blow. It saw more than a 180% jump last week and retail investors are anticipating this is only the beginning.

The stock closed at $26.33 on Friday (8.27) after reaching an all time high of $59 per share. The stock remained in green territory despite the selloff from quick traders.

franknez.com

Welcome to Franknez.com – SPRT stock has a short interest of 63.14% and we need to talk about this.

Lets get started!

SPRT Stock Short Interest

SPRT Short Interest

That’s right, according to Ortex SPRT has a short interest of 63.14%. This means almost 3/4ths of the stock’s float is being shorted.

Community, SPRT stock is massively shorted. If you took profits this past Friday congrats on your gains. I know a lot of you moved these to either your AMC or GME stock positions.

However, this runup seems to have been just that, a runup. Retail investors are anticipating a short squeeze from SPRT stock in the next few trading days of September.

SPRT has an average volume of 13 million but topped at 166 million on Friday (8.27). This massive volume pumped SPRT stock price up to the $50 range and beyond before getting shorted down to the mid $20 range.

SPRT Short Volume Ratio

SPRT stock had a short volume ratio of 49.45 on Friday, via Fintel. This means almost half of the volume on Friday was being shorted. Even then, the stock was able to make massive moves and still finish green both intraday and after hours.

SPRT Stock DD

The gamma squeeze we experienced on Friday seems to only be the beginning. The short interest is ridiculously high and with the overall float being much smaller than that of AMC or GME, there are more shorts in this play that will get wrecked short-term.

Why Haven’t We Heard of SPRT Stock?

In all honestly I have to blame myself. I should be on top of these plays and providing the information out to you so that you may digest the information and make a financial decision for yourself.

Two of the biggest plays in the ape community are AMC and GME. This is not going to change. However, I will be sharing information from other plays where the community can multiply their money. These plays will be updated on the momentum stocks tab of the blog.

There’s a lot of information and plays out there that simply haven’t had the reach they need to make an appearance to us at scale. For this reason is why I will make this platform a designated place where you can find this information out from.

Should You Buy SPRT Stock?

SPRT stock ended the trading day on Friday (8.27) with the MACd crossing downwards. This leads me to believe that SPRT stock will continue to drop in share price before finding a new level of support.

There is massive volume coming into this play right now that can easily deflect short sellers and counter with a bounce.

The stock today is on massive discount. The biggest signs pointing towards a short squeeze is how high the short interest is.

After the rally up to $50+ dollars, the short interest has gone down about 10% meaning short sellers might have covered a few of their positions. However, the stock still has a massive short interest!

Well now there’s exposure. More retail investors now know that there is a stock out there that was being shorted on the hush hush with over 75% SI at the time.

Retail investors who made money on SPRT’s runup have moved gains over to AMC or GME stock. Since SPRT has not squeezed yet, this momentum play could be a great way to multiply cash at hand for your main short squeeze plays.

Is SPRT Stock A Distraction?

SPRT stock is not a distraction. GME apes at one point believed AMC to be a distraction but the community noticed the incredible opportunity with this stock as well.

SPRT simply has not been exposed to the community. If there’s something I’d like you to take from Franknez.com is the amount of opportunities that will present themselves to you when you visit the blog.

You have a choice to keep HODLing your main plays, or to put some money in this incredibly shorted stock. No matter what you choose to do, you will always have opportunities to multiply your money.

Announcement

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I will only use my blog for good. All the information I publish here will be with sentiment in wanting to help you make life-changing plays and moves. If I don’t believe in it, or don’t think it will benefit you then I will not publish it on my site.

With that being said, I’m doing a giveaway to the first 100 FrankNez Patreon members. We are currently at 80/100. Once we hit 100 members, every single one of you will be receiving a free gift, sponsored by my company.

Thank you for reading FrankNez and for supporting the blog every way you do.

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