Support.com and NeuroMetrix climb in a retail investor-fueled rally.
Support.com (SPRT) – Get Support.com, Inc. Report and NeuroMetrix (NURO) – Get NeuroMetrix, Inc. Report were soaring in premarket trading Friday as the companies continued to be touted by the retail investing crowd.
Support.com, which provides cloud-based software and services, was up nearly 60% to $31.20, while the biopharma NeuroMetrix climbed nearly 30% to $12.80.
Retail investors talked up both companies on the stock-trading platform Stocktwits.
“$NURO the more volume we get the more we go down.. everyone is profit taking bigly,” one Stocktwits poster said Friday morning.
“$SPRT New bag holders being created!” another poster declared. “You don’t buy AFTER a stock has gone up 600% you IDIOTS!”
Support.com announced in March that it planned a reverse merger with privately held Greenidge Generation Holdings, which bills itself as “the first 100% carbon-neutral Bitcoin transaction processor in the United States.”
Upon closing of the proposed transaction, Support.com will become a wholly owned subsidiary of Greenidge, the companies said.
Morgan Stanley recently disclosed in a filing with the Securities and Exchange Commission that it had invested more than $1.6 million in Zomedica stock.
NeuroMetrix shares took off in July when the Food and Drug Administration gave a “Breakthrough Designation” to the biopharma’s Quell device for treating fibromyalgia in adults.
Quell is an advanced, non-invasive, nerve stimulation device that is covered by 18 U.S. utility patents, the company said.