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Highlights
- Support.com (NASDAQ:SPRT) stock was up 43.15% at 3:49 pm ET.
- NeuroMetrix, Inc. (NASDAQ:NURO) was up 60.88% at 3:50 pm ET.
- com gave a 1096.82% return YTD, while NeuroMetrix returned 422.47% YTD.
Stocks of Support.com (NASDAQ:SPRT) and NeuroMetrix, Inc. (NASDAQ:NURO) were up 43% and 60%, respectively, on Friday as they drew investors’ attention following a social media buzz.
Support.com stock was priced at US$28.20, up 43.15%, at 3:49 pm ET, while NeuroMetrix Stock traded at US$16.04, up 60.88%, at 3:50 pm ET.
Here we look at the recent developments of the two companies.
Support.com, Inc. It is a technology company that provides cloud-based software and services. The Wilmington, Delaware, headquartered company has a market cap of US$851 million.
The stock witnessed a massive trading volume, registering 105,897,900 stocks in Friday’s session. The stock gained nearly 70% in two days. The stock rallied after it started trending on social media forums.
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The company’s revenue was US$8.51 million in Q2 ended June 30, 2021, compared to US$11.0 million in the corresponding quarter of the previous year.
The net loss was US$799 thousand or US$0.03 per share diluted, against a net income of US$617 thousand or US$0.03 per share diluted. The liquidity reserves were US$32.30 million at the end of the June quarter this year.
The company went public in 2000. Its YTD return is 1096.82%.
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Source – pixabay
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NeuroMetrix, Inc.
It is a healthcare company and produces medicine for chronic health conditions. The Massachusetts-based company has a market capitalization of US$92.9 million.
The stock saw a significant trading volume on Friday, almost ten times its average. It was 2,041,231 on Thursday. There was no apparent reason behind Friday’s stock rally, except that it finds mention on some social media forums.
On July 20, 2020, NURO had announced receiving FDA breakthrough designation for its Quell device. The stock has been declining since then until Friday’s 65% jump.
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For the quarter ended June 30, 2021, the revenue was US$2.2 million compared to US$1.4 million in the June quarter of 2020. It booked a net loss of US$531 thousand or US$0.13 per share diluted, compared to a net loss of US$852 thousand for the same period the prior year. Its liquidity reserves were US$8.36 million as of June 3, 2021.
The company launched its IPO in 2004. The stock gave a 422.47% return YTD.
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Bottomline
The stocks rallied on Friday after it caught the attention of social media users, underscoring the power they wield.
