SPRT Stock Price: 15.44% Increase Explanation

By Amit Chowdhry ● June 6, 2021
  • The stock price of Support.com, Inc. (NASDAQ: SPRT) increased by 15.44%. This is why it happened.

The stock price of Support.com, Inc. (NASDAQ: SPRT) – a leader in customer and technical support solutions delivered by home-based employees – increased by 15.44% as it went from a previous close of $2.98 to $3.44. Investors responded positively to the company announcing new service offerings to bring reliable and 24/7 on-demand customer support to emerging fintech leaders, cryptocurrency and NFT platforms, exchanges, and wallet OEMs. 

These new offerings — including Support.com’s Homesourcing Cloud Platform and Crypto Concierge service — will solve customer and technical support issues and provide education around cryptocurrency and financial services, utilizing the company’s proprietary security software and deep institutional knowledge to meet rising market interest and demand for crypto-based customer support services.

Over the past two years, cryptocurrency has witnessed explosive growth, recently nearing a total market capitalization of $2 trillion according to TradingView, and it is attracting new institutional and retail investors daily. The growth led to excessive demand for customer support and criticisms for slow response time.

For over 20 years, Support.com has been delivering customer and technical support solutions with a globally distributed, home-based workforce. And the company’s Homesourcing model employs a secure, cloud-based platform with integrated customer support tools for a rapidly scalable, live, always-on workforce with true business process continuity. 

Customers are able to activate the customer support resources they need, distributed across the major markets they operate in, up to 3 times faster than with traditional outsourcing. Unconstrained by geography and with no commuting or brick-and-mortar facilities, Support.com is able to hyper-target, hire, and onboard highly matched experts with the technical expertise and skills required to support crypto and fintech services.

Support.com’s global multi-lingual workforce is able to solve customers’ problems and answer questions about crypto whenever they come up – after hours, on weekends, and especially during times of significant market movement.

Support.com’s homesourced practices are secure by design. Robust enough for passing HIPAA regulations in a healthcare environment, Support.com’s “SecureHub” is a proprietary virtual desktop infrastructure that validates the expert’s identity and workstation with environmental and biometric facial scanning, screen capture, and data download restrictions, making it uniquely secure for crypto and financial services.

As of now, Support.com will accept bitcoin as payment from business customers.

KEY QUOTE:

“Big swings are the nature of fintech and crypto. We offer support services that can move as fast as the market.”

“We believe in the future of crypto and we’re committed to boosting the use of digital assets as currency.”

— Lance Rosenzweig, CEO of Support.com

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.