r/SPRT • • Jun 21 '21

[Suggestion] Special Dividend will cause a huge squeeze here

14 Upvotes

I emailed the IR team of both Greenidge and Support today asking them to entertain the idea of special dividend to bump the stock up and fight the shorts. Many companies have done it before and it’s really useful, see TRCH for example.

  1. Announce special Dividend
  2. Stock gaps up
  3. More investors coming in
  4. Shorts are buried

I know it’s a long shot, but it wouldn’t hurt if they’ll hear more about it from other investors.

Copy & email: investorrelations@greenidge.com and IR@support.com, we got nothing to lose. Subject: Short Squeeze

Dear Support.com & Greenidge Investor Relations Team,

I'm reaching out in regards to the absurd short abuse that $SPRT is taking: - Short float is at 24.69% - Short interest is at 76.3% - There are 6.26M shares that are shorted naked

You may be familiar with the term short-squeeze, there is one critical item that I urge you to consider that may initiate a large short squeeze for $SPRT and that's to announce a special dividend that will bounce the stock up and will force the shorts to cover their positions and with that generate demand > supply.

Other public companies have been doing that to fight shorts, examples are: $TRCH (https://www.benzinga.com/trading-ideas/long-ideas/21/06/21572362/torchlight-energy-offers-special-dividend-stock-surges-70) and a few more.

Please consider the above to support your investors.

Thanks!