Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
In a stark reflection of the tumultuous market conditions, Support.com's stock has tumbled to a 52-week low, touching down at $0.58, with a concerning market capitalization of just $8.54 million. InvestingPro analysis indicates the stock is trading significantly below its Fair Value, suggesting potential undervaluation despite its weak financial health score. This latest price level underscores a significant downturn for the company, which has seen its stock value erode by an alarming 82.87% over the past year, with a concerning revenue decline of 15.42% in the last twelve months. Investors have been wary as the broader market faces headwinds, and Support.com has not been immune to these challenges, with its beta of 3.19 indicating high volatility. The steep decline to this year's low point marks a period of intense pressure for the company, as it grapples with both internal and external factors influencing its market performance. InvestingPro subscribers have access to 16 additional ProTips and comprehensive financial metrics to better understand the company's outlook.
In other recent news, Greenidge Generation Holdings Inc. reported significant improvements in its financial performance for the fourth quarter and the full year of 2024. The company announced a revenue increase to $14.8 million for Q4, up $2.4 million from the previous quarter, and a reduction in net loss from continuing operations by $2.0 to $3.0 million. For the entire year, Greenidge generated $59.5 million in revenue and improved its net loss by $8.8 to $9.8 million compared to 2023. The company also reduced its SG&A expenses by $8.9 million and reported an increase in Adjusted EBITDA by $4.8 to $5.8 million year-over-year.
Additionally, Greenidge secured credit support through an Equity Interest Payment Agreement with Atlas (NYSE:ATCO) Capital Resources GP LLC. This agreement ensures the continuation of letters of credit essential for Greenidge's environmental and pipeline obligations. In return, Greenidge will make payments in Class A common stock, as outlined in the agreement, and cover interest quarterly. Atlas has been granted registration rights for these shares, strengthening their investment relationship with Greenidge. These developments highlight Greenidge's strategic efforts to manage financial obligations and support future growth.
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