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<ul class="summary-list"><li>Shares of <keyword id="11963821" type="UNKNOWN" weightage="60" keywordseo="support-com" source="Orion">Support.com</keyword> extended their surge for a second day to gain 200% Friday morning.</li><li id="recirc">Retail investors on social media cheered on the technical support software company, with many saying that the stock could be on the receiving end of a massive <keyword id="11918411" type="UNKNOWN" weightage="60" keywordseo="short-squeeze" source="Orion">short squeeze</keyword>. </li><li>Trading volume exploded to 100 million shares, compared to the avearge 8.9 million.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/sprt-stock">Support.com</a> extended their surge for a second day to as much as 150% shortly after the opening bell on Friday. Retail investors on social media cheered on the technical support software company, with many saying that the stock could be on the receiving end of a massive short squeeze. The stock was the top trending ticker on <keyword id="11963825" type="UNKNOWN" weightage="60" keywordseo="stocktwits" source="Orion">Stocktwits</keyword> and Yahoo Finance Friday morning. Over 100 million shares changed hands Friday, compared to average trading volume of about 8.9 million.One user on Stocktwits compared the stock's squeeze to GameStop and urged fellow investors to hold the stock, even as it was trading at $49.80, a roughly 152% jump from the Thursday close. "Short data.. not yet covered..they are creazy[sic] ..many small HF will play with us this squeeze," said another user. While one speculated: "$SPRT shorts needs to cover! We will se[sic] $ 300-500 today."Meanwhile, retail investors within the Reddit channel r/SPRT discussed Support.com's recent <a href="https://www.businesswire.com/news/home/20210322005353/en/Bitcoin-Miner-Greenidge-Generation-Holdings-Inc.-and-Support.com-Inc.-Nasdaq-SPRT-Announce-Merger-Agreement">merger</a> with bitcoin mining company Greenridge Generation Holdings, with <a href="https://www.reddit.com/r/SPRT/comments/paqznr/theory_on_why_the_short_position_is_not_covering/?utm_source=share&amp;utm_medium=web2x&amp;context=3ontext=3">one post</a> claiming that the stock could see the "mother of all short squeezes." "The major short HF is not covering because they have a hedge with Series A stock but the hedge only works post-merger. If we squeeze them to a stock price where they can no longer meet their margin requirement BEFORE the merger, the MOASS will take place," the post theorized. Support.com was trading around $41.71 before the opening bell Friday.

Support.com extends 2-day surge to 150% as social media traders rally around new short-squeeze target

<ul class="summary-list"><li><a href="https://markets.businessinsider.com/stock/SPRT">Support.com</a> and <a href="https://markets.businessinsider.com/stock/BBIG">Vinco Ventures</a> extended their three-day rallies to over 100% on Monday. </li><li id="recirc"><a href="https://www.businessinsider.com/?hprecirc-bullet"></a>Nearly 60% of <keyword id="11963821" type="UNKNOWN" weightage="60" keywordseo="support-com" source="Orion">Support.com</keyword> is sold short, and social media investors are speculating it could become the "mother of all short squeezes." </li><li>Traders on Stocktwits are encouraging each other to buy and hold <keyword id="11984598" type="UNKNOWN" weightage="60" keywordseo="vinco-ventures" source="Orion">Vinco Ventures</keyword>.</li></ul><a href="https://markets.businessinsider.com/stock/SPRT">Support.com</a> and <a href="https://markets.businessinsider.com/stock/BBIG">Vinco Ventures</a> extended their rallies the third day, soaring over 100% on Monday as retail traders cheered the stocks in social media chatrooms on Reddit and Stocktwits. Support.com jumped as high as $43.17 on Thursday, bringing its three-day gain to 119%. Meanwhile, Vinco Ventures has jumped 241% over the last three days to an intraday high of $10 on Monday. The companies are becoming the latest meme plays as retail investors take note of the high-short interest on both of the stocks. 60% of Support.com shares available for trading are sold short, and 20% of Vinco Ventures stock is currently sold short, according to <a href="https://www.bloomberg.com/news/articles/2021-08-30/vinco-ventures-support-com-take-meme-baton-as-rallies-heat-up?srnd=markets-vp">Bloomberg</a>, which cited data compiled by S3 Partners.Vinco Ventures is the top trending stock on Stocktwits on Monday, where investors are encouraging each other to "buy the dips and keep holding" in messages filled with rocket-ship, ape, and diamond-hands emojis."$BBIG not selling until 50$&gt;&gt;&gt; just hold n buy more!!!" one user commented. Meanwhile, SPRT ticker mentions have increased 66% over the past week on Reddit's WallStreetBets, according to <a href="https://www.cnbc.com/2021/08/30/supportcom-shares-soar-another-40percent-as-meme-traders-pile-into-the-heavily-shorted-software-company.html">CNBC,</a> which cited alternative research provider Quiver Quantitative. Last week, retail traders within Reddit's r/SPRT channel <a href="https://markets.businessinsider.com/news/stocks/supportcom-stock-price-sprt-explained-reddit-stocktwits-short-squeeze-hedge-2021-8">speculated that Support.com could see the "mother of all short squeezes"</a> in light of its recent merger with bitcoin mining company Greenridge Generation holdings. Vinco Ventures is an acquisitions company that buys digital media and content companies. Earlier in August, one of its subsidiaries, Emmersive Entertainment, launched a music streaming platform. Support.com is a technical support software company.

New meme stocks Support.com and Vinco Ventures extend 3-day surges to more than 100% amid spiking retail-trader chatter

<ul class="summary-list"><li><keyword id="2067854" type="COMPANY" weightage="60" keywordseo="Support-com">Support.com</keyword> shares jump as much as 283% early Monday following an all-stock <keyword id="42411" type="PERSON" weightage="60" keywordseo="Merger">merger</keyword> agreement. </li><li>The technical services provider will take <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> miner Greenidge Generation public.</li><li>Support.com will become a Greenidge subsidiary in a deal slated to close in the third quarter.</li></ul><a href="https://markets.businessinsider.com/stocks/sprt-stock">Support.com</a> stock soared early Monday following a merger agreement under which the business and consumer technical services provider will take bitcoin miner Greenidge Generation public in a stock-for-stock transaction. Shares were up as much as 283% shortly after the opening bell. Greenidge in a statement Monday said it expects to be the first publicly traded bitcoin mining company with a wholly-owned power plant. When the deal is completed, Support.com's stock holders and option holders will collectively own about 8% of Greenidge's outstanding Class A common stock.Support.com, which will become a subsidiary of Greenidge, is expected to provide about $33 million to Greenidge, with the deal conditioned upon Support.com having at least $28 million in cash on its balance sheet at closing. The pro forma combined company is expected to have net cash of at least $70 million.The deal, aimed at bringing Greenidge to the Nasdaq exchange, is expected to close in the third quarter of 2021. Greenidge runs a 106 megawatts natural gas plant in upstate New York that powers 19 MW of mining capacity. That capacity is expected to more than double to 41 MW by the end of the second quarter of 2021 and to reach 85 MW by the end of 2022. Greenidge said it mined 1,186 bitcoins at a net variable cost of about $2,869 per bitcoin for the twelve months ended February 28.Greenidge foresees calendar year 2021 EBITDA of more than $50 million. The transaction "represents a significant value proposition for our shareholders by providing them with enhanced liquidity and the opportunity to participate in the growth of what we believe will be a successful competitor in the rapidly evolving domestic bitcoin mining space," said Lance Rosenzweig, chief executive of Support.com, in the statement.So far this year, Support.com shares had lost 2.8% but had more than doubled from about $1 each over the past 12 months.

Support.com surges 283% on plan to merge with bitcoin miner Greenidge Generation

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Support.com extends 2-day surge to 150% as social media traders rally around new short-squeeze target

Emily Graffeo

New meme stocks Support.com and Vinco Ventures extend 3-day surges to more than 100% amid spiking retail-trader chatter

Emily Graffeo

Support.com surges 283% on plan to merge with bitcoin miner Greenidge Generation

Carla Mozée

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