SPRT STOCK – LIVE – SUPPORT.COM STOCK – IMPOSSIBLE STOCK NEWS

SPRT STOCK – LIVE – SUPPORT.COM STOCK – IMPOSSIBLE STOCK NEWS

hey everybody welcome back to impossible stock news where i’m bringing you the most impossible stock news in every video for those of you who have already subscribed to the channel thank you you guys are absolutely amazing every person who hits that subscribe on this channel makes the hard work it takes to put these videos together so so worth it and you are absolutely appreciated so thank you so much for hitting that subscribe button and making this channel what it is today all right before we get started on this video sprtsupport.com we need to have a conversation about these disclosures okay this video is not financial or legal advice i’m not a financial advisor always do your own research get help from someone licensed when you need it this is impossible stock news i’m jordan and welcome to the channel all right in addition to our normal disclosures okay there’s an extra warning i am not invested in this stock i know i say that this is not financial advice normally but because of the extreme risk on this stock i want to tell you this is for entertainment purposes only do not invest on anything that’s said in this video i’m trying to walk you through how i look into a new stock one that’s in sort of this like crazy momentum you know uh stream that it’s in right now and we’re going to sort of walk through that process i know almost nothing about support.com other than the chart looks absolutely ridiculous so if you want to see how i look into a stock you know that comes to my attention this is the perfect video for you all right so the first thing that you know uh came to my attention is i saw this support.com on multiple of the social media websites that i was looking on and i’ve been keeping track of it because of the absolute incredible incredible growth in the stock price in the stock price okay so the first thing that i did was i went to s p r t stock on google okay and what comes up when you flip to the one year is a stock that was trading um prior to march 2021 at about two dollars and fifteen cents okay then it had shot up to about seven dollars in march in march of 2021 and then ultimately came back down to two but since may since may it’s went from two dollars and fifty cents to now today nineteen dollars and seventy cents in at the close and after hours it’s up another 24.37 percent all the way to 24.54 okay and for those of you who uh you say oh well that would seems to be like a massive massive change in the market cap well i believe the market cap that it’s showing on google right now if you’re following along in the chart with me says it’s 477.49 million in the market cap so if that’s at this like 1970 so we’ll call it a 20 ish you know range then we would probably be looking you know when this thing was trading at two dollars at a stock that was trading around the 50 million dollar range right so a pretty small cap stock historically um you know for for the stock so that’s that’s the first thing that i look at and any time any time that i mr fishing says he bought in yesterday insane mr fishing you make any money on that did you sell it already uh so any time that i see a stock that is in this like crazy crazy growth pattern uh one of the things that i want to do is i want to i want to look it up i want to figure out you know is this something that i want to get into you know a because of the momentum trade right or b because not only is there a momentum trade but there’s potentially also some value um as some would call it some dfv right uh some dfe in the into the stock so yeah you know at the very beginning i look at the stock obviously i’m extremely cautious when i see a stock go from i think it was four dollars on july 16th so it’s been about 30 something days and it’s going to be up where of uh you know 25 you know in the after hours today so let’s go to wikipedia and learn about support.com and i know this sounds silly but this is really the way that i learn about stocks at least to begin with right so support.com is a technical support company for businesses and consumers it’s headquartered in wilmington delaware with administrative offices in sunnyvale california the company’s services are performed on windows mac os ios and android supporting connected and smart devices these services are performed by the company’s remote full-time workforce based mainly in the us okay um support.com owns super anti-spyware headquartered in eugene oregon which offers anti-malware services as well the company also owns right-hand it headquartered in louisville colorado which provides managed i.t service for small businesses all right looks like it was formed ipo and name changes it looks like it’s about uh september 1997. mark pincus got dale and cater lee launched um replicas a software company in redwood city california softbank invested 2.5 million in the company october 1998 replicas was renamed tioga the company’s focus moving on to self-healing software in december 1999 the company changed its name to support.com okay that’s how we get to support.com okay products and services tech solutions direct to consumer tech support for connected devices with help from live tech support agents via phone chat or virtual house calls virtual call center services and remote i.t help desk support nexus cloud-based software for support interaction optimization small business tech support services super anti-spyware so i’m just going through their products and services okay so i do think that this is missing something that’s really important um so i’m gonna go back to the support.com uh i’m gonna go back into google and i’m gonna say if i read something about this a while ago sport.com crypto because they were doing something with the cryptocurrency that may have caused the spike okay so remember when we were talking about how in march of 2021 we saw the move go from two dollars to seven dollars uh well here’s here’s the deal with that uh so there’s a website called marketwatch uh the title of the video says our title of the article says support.com skyracket skyrockets after merger deal with bitcoin mining company shares of support.com inc more than tripled on massive volume on monday after the provider of technical support cloud-based software announced the deal to be acquired by bitcoin mining company green edge generation holdings inc support.com uh sprt skyrocketed 231.8 to the highest close in september 2014. trading volume exploded okay the stock was currently the biggest percentage gainer on major u.s indexes okay interesting um so let’s go so then there’s another article from june that says support.com now offering new crypto based support services support.com inc said it’s offering new services to bring full-time on-demand customers customer support to emerging fintech leaders cryptocurrency and nft platforms exchanges and wallet oems the company said the new offerings include support.com home sourcing cloud platform and crypto concierge service which would solve customer and technical support issues and provide education around cryptocurrency and financial services the new services would use support.com security software and institutional knowledge to meet rising market interest and demand for crypto based customer support services okay so i wonder i wonder and for anybody who has seen how excited i am about coinbase coinbase coinbase right so if anyone’s seen how excited i am about that then you guys probably know that uh you know coinbase has had some recent turbulence with a cnn um video that came out slash article about potentially you know how bad their customer service was you know and that they’re having trouble with you know people who got hacked not being able to contact anybody okay so i’m thinking right now and again remember this is my first time looking at this stuff none of this is financial advice there’s a special warning in the comments that says don’t don’t take any of this for anything other than entertainment purposes right now my brain is thinking right i wonder if the excitement around the stock is related to that right so let’s take a look at the comments see we’ve got here a lot of 14 sold at 19 made 60k but big mistake should hodl it mr fishing says i have a tiny account under 10k haven’t sold any of sprt yet 80 of my portfolios in amc well that is an exciting portfolio mr fishing um really really interesting all right so so yeah so that’s so that’s some interesting stuff okay uh so then finally we’re going to do one more thing and we’re going to go to a very recent article published by nasdaq okay even nasdaq is publishing articles on this thing all right shares of support.com surged higher on thursday climbing as much as 43.2 percent earlier in the session ultimately ending the trading day of 41.1 percent that’s not all the company which provides technical support services and cloud-based software has been on fire all week yada yada yada so what there was no specific news regarding support.com today the company announced earlier this year that it plans a reverse merger with privately held green ridge generation holdings which bills itself as the first 100 carbon neutral bitcoin transaction processor in the united states with the ongoing adoption of digital currencies and the growing awareness of the negative environmental impact of cryptocurrency mining that relies on fossil fuels greenridge is positioning itself as a planet-friendly alternative i’m going to read that again because i really don’t quite understand it the first 100 carbon neutral bitcoin transaction processor in the united states okay well how do they do that and why doesn’t anyone else do that that’s interesting i might have to go look that up additionally wall street has been heavily against support.com okay so here we go here we go more than 67 percent of its flow was sold short as of august 13th according to yahoo all right and i’ve done a couple of more recent videos if you’re not subscribed to the channel go ahead and hit that subscribe button we did a couple of videos over the last couple of days which talked about uh how when the momentum into those small cap stocks started to hit that we you could sort of see based on the percentage that those stocks were moving at least there was a correlative it might not have been causative right but there was a correlated you know uh change between the the amount of the short interest in that stock and the amount of the move that day when things were moving okay so um for any of you who are in uh amc and gamestop you know a lot of you have probably heard a lot about what short squeezes are for the last you know few months or a year right we’ve learned that you know if you get a large movement you know in a particular stock especially if that movement is backed by some kind of underlying fundamental like for amc it’s like people love movie theaters and people are willing to throw money at a movie theater stock right people love gaming okay and you know the gaming has a big community that’s willing to throw money at that right even if they lose money right you know people were just willing to do it okay and when you get that kind of like undying support you know that can really you know hey move a stock and b can cause you know uh if there is a strong short interest can cause that short interest to sort of go on for a long long long time these gme and amc stocks are still up and the shorts are losing okay they’re losing right now uh and so the question is whether or not support.com you know has that kind and i know amc and gme both have you know real real businesses underlying those business whether or not you know they’re great businesses is another question but they’ve got real businesses the question is you know what is support.com doing so um you know we see the 67 afloat which is absolutely gigantic we covered four spacks the other day in the largest short interest of those four stacks uh was like 30 something percent and that stock that day moved 30 percent you know even in just like that small rotation of money into those small caps back stocks that was pretty incredible okay um and so here’s how this nasdaq article concludes now what the escalating share price and the resulting short covering become a self-fulfilling prophecy driving shares even higher the combination of high short interest and the fervor surrounding cryptocurrency was enough to drive support.com into the stratosphere today okay everybody so this nasdaq article you know i again you know i i have to say this as much as i possibly can i’m not i’m not invested in the stock right now i’m not planning on investing in stock just based on the original research that i’ve done so far just because you know if the money dries up here right and the shorts ultimately become victorious at some point you know and the stock comes starts coming down the question is you know at what point will that stop stop coming down and i look here um you know at the chart and again and again this is just you know my personal preference and how i like to trade but i look down at the chart and i say okay well if if i’ve missed the boat on this right and suddenly the rug gets pulled out from under me you know and this thing starts heading back down to two bucks right i mean even even if it heads back down to four right uh you know trying to buy in the after hours right now up 40 in the after hours right now 40 27.58 dollars in the after hours that is truly truly incredible the short interest is insane long way to go folks does anybody know i just i was just reading that comment by tom does anybody know how to track live short interest because i think they only get published on the uh unlike the nasdaq every so often right so yeah man that’s like totally totally wild to me in that you know you know you get these massive short interest and then you gotta figure out what’s going on so here’s what i do next all right so i’ve now got like a general idea what’s going on with the company um you know i kind of know what it does i kind of know that it has this like interesting they call it a reverse merger one website another website called it you know that they were getting acquired i don’t know what the truth is behind that but once i get this general idea of what’s going on then i transition to revenue and earnings and for those of you who are in this chat looking for a technical chart analysis that’s not what i do here right what i do here is i you know review the you know stocks that are you know interesting to me and right now a stock that’s up a gajillion percent is super interesting to me right and so i you know i start with figuring out what i can learn about the stock and then i transition to whether or not there’s a decent underlying fundamental business there that would be you know at least provide some support for me if i wanted to trade this stock okay and by the way everyone who’s hanging with me in the live chat i appreciate you guys so much you’re absolutely amazing if you’re one of my uh subscribers already you guys are the absolute best your subscriptions make this channel everything that it is and i appreciate you so much all right so we’re going to go to google if anyone wants to follow along with me and we’re going to type in sprt earnings okay and revenue type of earnings and revenue and we’ll see because it’s a nasdaq company and ultimately we can go into the nasdaq report but we are going to try it this way to see if we can find this out all right okay earnings earnings earnings you guys know the nasdaq website is slow slow let’s see if we can find a news article on it that will get us there faster okay here we go young finance boom two weeks ago everybody all right so support.com reports second quarter 2021 financial reports if you want to follow along this is the yahoo finance from august the 13th 2021 august the 13th 2021 okay so for the second quarter of 2021 total revenue was 8.5 million you guys aren’t going to like this a decrease of 2.5 million or 23 compared to the revenues of 11 million in the second quarter of 2020. okay um and by the way i’m skipping through some things i’m not reading at all we recorded net loss i mean there’s no word of but i’m saying of 0.8 million or negative 0.03 per share in the second quarter 2021 compared to net income of 0.6 million or 0.03 per share in the second quarter of 2020. okay key changes in our net income loss okay so balance sheet information this is good as of june 30th 2021 cash cash equivalent and short term investments were 38.5 million compared to 29.7 million at june 30th 2020 and 30 million at the end of december 31st 2020. okay as previously announced and in connection with the proposed merger transaction with green edge 210 capital comma llc acquired approximately 3.9 million shares of support.com in a private placement in march 2021. total assets as of june 30th 2021 where 46 million and total stockholders equity was 40 million okay all right so it looks to me and anytime i’m looking at one of these stocks oh we got a new comment so let’s take a look see if there’s anything uh or text tracks the short interest has live but it’s oh you have to pay for it oh that’s not nice um oh mr fishing are you you’re still on zev yeah that uh that contract with that warren buffett uh subsidiary company right the berkshire hathaway subsidiary uh that was super interesting to me um so i’m gonna turn my attention back to zdv hopefully in the next coming weeks um if you’re not subscribed to the channel and you love zev uh definitely jump in on that all right uh and uh and by jumping on that i mean subscribe subscribe to the channel okay so support.com right they are doing uh about what do they say total revenue of 8.5 million uh in the second quarter and everybody knows everybody knows impossible stock news absolutely loves to extrapolate you know each quarter over four quarters to get an idea of what you know uh the price to revenue of a stock looks like right so uh you know to the extent that you extrapolate this 8.5 million over four quarters we’d be looking at something like what 34 million in revenue uh in in yearly revenue okay and then you know i’m not i’m not super like you know against or for a company that’s doing you know small amounts of profit and loss so i don’t i’m not even going to pay attention to their earnings right now and uh but i am interested in their balance sheet with cash cash equivalents and short-term investments of 38.5 million okay so all of that is super interesting right and then we go back to the we’re going back to the uh google chart on support.com and we say okay a company that was trading you know uh that has about 38 million in revenue if we extrapolate that second quarter i’m sorry was it 34 million in revenue if we extrapolate that second quarter over four quarters um you know you know when it was at that two dollar mark right it was trading at about it was trading at about one and a half times revenue right or the two something mark right but now now it’s trading significantly higher right what is it so if you were to take 34 million for 177 the million dollar market cap i i’m not doing the math here guys but we’re talking about like 15 15 times revenue right uh oh i’m sorry that’s at the close right because i don’t think the uh i don’t think the market cap that shows on google right now uh is the one that would represent with the after hours 40 gain on it so we would be trading probably considerably higher that right so probably at least 20 times revenue uh based on the after hours price so that’s pretty wild okay you’ve got massive massive massive movement in this stock right and the question is can we rely right now on fundamentals can we rely on fundamentals to say okay if i buy this stock now and for some reason right and i’m not saying that the short squeeze is going to end anytime soon i don’t know i don’t have the answers to those questions um but to the extent right that we wanted to rely on some underlying fundamental so far in this search you know today and by the way for those of you just joining us what we’ve done so far in this video is we’ve talked you know first about you know the fact that i’m not invested in the stock right now you know i’m certainly not advising to invest in the stock and this video is for entertainment purposes only but what we’ve done is we’ve sort of walked from the very beginning of investigating you know what this stock is about and so we learned a lot about essentially you know the custer’s customer support company right and then it looks like they the the stock really changed when they started talking about this either reverse merger or acquisition back in march 2021 whatever you want to call it got to do further research to really nail that down and then you know essentially what that new business will look like you know is still right now is unknown to me based on this initial search right but what we did do is we did look at the uh second quarter earnings report and we were able to look at what the revenue looked like what the earnings look like and how much cash they had on the balance sheet right now okay and so given those factors you know i’ve essentially now come to you know a pretty pretty good conclusion for myself in terms of what i’m going to do which is that you know i wouldn’t feel super super comfortable putting my money in here you know especially now especially when it’s up another 40 in the after hours uh 27.70 right when the stock was trading at uh 2.52 cents on may 20th okay and you know so that’s to me is a little bit scary okay so um you know alternatively right there’s probably a lot of people who are watching this channel right now that are that know a lot more about what they call a short squeeze to me right and one of the articles that we i talked about earlier in the video said the short interest was like 60 as of like the middle of august right it was something along those lines and because of that short interest you know even even nasdaq was talking about you know the short squeeze yeah what did they what did the nasdaq call it oh man i got to go back to this nasdaq said it’s um a self-fulfilling prophecy uh was enough to drive support.com to the stratosphere what day was this article stratosphere stratosphere was august 26th okay that was today okay today so so even nasdaq today is talking about how this thing is heading to the stratosphere absolutely incredible the popularity that this thing is going through okay now um i think potentially you know what we could see here um in terms of you know if this stock could be a total variety of things right we could see you know the the rally continue right uh we could see you know sort of uh you know the thing leveling out like it did in gamestop and like it did in amc at some point and by level out you know up 20 to 30 but you know what i mean like like it does it doesn’t stay at the top of the peak but you know somewhere you know between the bottom and and the peak right um or alternatively we could see you know a crash right i mean those are those are sort of the you know for me the most likely possibilities and um you know because i’ve now looked at these books and i say well a company doing you know 30 and change in revenue uh you know and you know that you know that it’s not like they’re you know bringing in a ton of you know money and earnings or or earnings at all you know i think about these things and i say to myself well you know there are so many people who are way better at at anticipating how these squeezes are going to happen and and how momentum works in these stocks that i would essentially just be guessing you know if i tried to get in on it i usually don’t like to guess if it’s going if like in a worst case scenario it could result in at least at least right 90 percent of my money being gone um but you know i think it’s always fun to take a look at these things when they’re happening right because it you know the the the way that investing is happening right now feels so different than it has ever felt in the history of investing right you have groups and groups of people who are really focusing in their attention on stocks that they find to just be absolutely interesting that are opposite of what hedge funds are doing with their money in terms of going after stocks you know and shorting them right i mean that was the whole deal when it came to gamestop and amc is that people felt that these hedge funds these large financial in financial institutions were killing the companies that they love by essentially making it impossible for them to raise capital by putting heavy heavy selling pressure on their stocks right uh and making it very difficult for them to raise money and change business plans and do all the things that they want to do so hey uh eli er ellie um you know i i don’t think anybody in this in this chat should be making any predictions on which way this thing’s gonna go here in this chat we were talking about you know just just you know getting getting to know the company a little bit here you know and sort of how i process you know from start to finish learning about a new stock you know how i would approach you know something like support.com and i’ve sort of given you that you know the the general uh preview listen if you guys are experts you know in in in charting if you’re experts in playing these games or you just users like to gamble and don’t care about losing all potentially a good sum of your money and this is what you like to do hey i get it i get it you know one of the things i’m going to do when i get off this channel um is i’m going to go look into the options in this thing and see if the options are good right because the options can sometimes be an interesting way to play it i haven’t fully delved into that and i don’t think i want to do it on this channel because this was just so sort of like an exploratory uh you know view of sort of how i uh you know initially research a stock so oh it started to go down now hold on let’s take a look at this sucker wait starting to go down i see i went from what 40 up 42 to 38 yeah so you know that the whole whole deal is that you know this is a super interesting uh you know situation that’s been happening we’ve seen it happen multiple times before uh you know i you know not being an expert in the short squeezes you know i didn’t pull the trigger on this one i think you know one of the things that this does lead for me and and you know if there’s something that i would you know personally learn from this is next time i see that a stock is trending on every single social media platform i need to pay attention a lot earlier okay because when these kind of things happen right and i you know i’ve got to go on nasdaq check that short squeeze i got to go on you know any platform i can to figure out what that short interest and short volume is when that happens i’ve got to pay attention okay because it’s absolutely incredible what can happen in these things whether or not it’s just spending a hundred bucks and taking a flyer on like a you know a a you know call that a leap that’s like super far out you know maybe maybe i can you know uh take do a little bit of risk in the future on one of these things okay um so let me recap you know this whole story and then i’ll um i’ll let everybody get back to their their wild wild trading here so in recap you know we’ve got a stock that has went from you know two dollars and change all the way to over 27 today in the after hours all right and to the extent that you know this happens to me where i see a stock that has rapid movement you know the first thing that i do is i try to learn about the stock right i go on google i go on um you know on the nasdaq websites you know eventually i would pull those nasdaq filings and actually really dig into them read about them here which i didn’t do in this video which i may do in future videos so if you’re not subscribed definitely subscribe to the channel okay um but what i might do in future videos is i may dig a lot deeper into the actual uh you know whatever this merger or acquisition or or share purchase was from this company where where that the news caused it to spike back in back in march 2021 i want to do a lot more research on that because i i i guess i’m telling you with with all this noise about coinbase and their weird customer service issues that’s been that’s been happening um you know i wonder i wonder i wonder what’s going on there and i’d love to learn more about that to see if there’s something there i’m not saying that there is but i’d love to learn more about it to see if there’s something there okay so so then you know we moved into that and then finally you know we moved back into sort of the you know what jordan would want to do with the stock and essentially what i’m thinking about doing with this is using it as a learning experience right um you know i don’t think i’m gonna try to put my money in it not right now um and try to play the momentum just because i’m not an expert in the area and i wouldn’t know when would be the right time to get in when would be the right time to get out and who knows if like right now is like literally the worst time to get in i just don’t know the answers to those questions um but there is definitely a lot to learn here um with respect to momentum trading right um short interest uh you know uh a ton of social media chatter these are things that i like to learn and potentially can get in on the ground floor in the next one right so that’s where i’m at with it um you know i thank everybody so much for for joining me for this you know this entertainment experience of you know sort of how i learn about uh new stocks um definitely definitely one i’m going to continue continue to research further okay um you know at the very beginning of these comments you know i put a uh disclosure in here and i want to say it one more time the video is not financial or legal advice i’m not a financial advisor always get help from somebody licensed when you need it i put an extra warning in there that i’m not invested in this stock and i know i say these things aren’t financial advice but you must must must use this for entertainment purposes only definitely not financial advice you know if there are people out there that are licensed to do this those are the people you want to talk to about momentum training certainly not me however everybody can learn something from these experiences that are happening out in the market right now right um and whether it’s just for your own future trading or whether it’s just for you know watching something and just enjoying what’s happening out in the world i mean that’s what i try to do with these things so i now you know now and anybody who’s watching from the beginning we now know a little bit about what the sport.com you know company is right because we looked up wikipedia we talked about it we did we you know we read some nasdaq articles you know we read you know the latest q2 report um you know in parts right and so that stuff was super interesting right so i’ll dig deeper if i get more information on that uh on that you know uh the merger or the acquisition whatever that thing was uh and i find that there is impossible stock news buried within there um i will come in i will do another video for those of you who have subscribed you know during this video or we’ll subscribe after i hope you join me for that as well um this has been an absolutely incredible experience watching everybody’s comments you know talking about you know uh you know the stock you know with you guys and um super super super excited for another exciting trading day tomorrow and and moving forward so i wish everybody the absolute very best thank you for joining us again and happy hunting
rn

SPRT STOCK - LIVE - SUPPORT.COM STOCK - IMPOSSIBLE STOCK NEWS

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