What's Going On With Greenidge Generation Shares Monday?
Portfolio Pulse from Dylan Berman
Greenidge Generation Holdings Inc. (NASDAQ:GREE) shares rose on Monday following the announcement of preliminary Q3 2024 financial results. The company reported $12.4 million in revenue, a $0.4 million adjusted EBITDA loss, and a $6.6 million net loss. Revenue sources included cryptocurrency mining, datacenter hosting, and power services. Greenidge also reduced SG&A expenses significantly compared to the previous year.
October 14, 2024 | 5:33 pm
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Greenidge Generation's stock rose 6.18% after announcing Q3 2024 results with $12.4M revenue and reduced SG&A expenses. Despite a net loss, the market reacted positively to the financial update.
The stock price increase suggests a positive market reaction to the financial results, particularly the revenue figures and reduced SG&A expenses. Despite the net loss, investors may be optimistic about the company's cost-cutting measures and revenue sources.
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IMPORTANCE 80
RELEVANCE 100