Support.com and NeuroMetrix Stocks Soar on Meme Boost

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.

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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!”

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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. 

Meanwhile, Zomedica  (ZOM) – Get Zomedica Pharmaceuticals Corp. Report shares did an about-face and began to slide despite interest in the veterinary health company from retail traders on Reddit.

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.