shareholders approve merger with bitcoin miner Greenidge, stock falls

1 week ago 7
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Shares of Inc. SPRT, -18.49% tumbled 16.5% successful day trading Friday, aft soaring 34.8% implicit the past 2 sessions, aft the lawsuit and method enactment services institution said it shareholder approved the woody to beryllium acquired by bitcoin mining institution Greenidge Generation Holdings Inc. The banal has present pulled backmost 40.0% since it closed astatine a 17-year precocious of $36.39 connected Aug. 30, aft a meme-stock similar rally that took the heavy shorted banal up 364% successful 2 weeks. "We are grateful for our stockholders' overwhelming endorsement of the merger with Greenidge," said Chief Executive Lance Rosenzweig. The institution said it volition announced the people day for the closing of the merger erstwhile it is determined. The banal has rocketed 892.7% twelvemonth to date, which compares with the the Nasdaq Composite's COMP, -0.82% emergence of 18.0% and the S&P 500's SPX, -0.71% beforehand of 19.3%.

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