- Sprout AI (SPRT) has identified a Nasdaq-listed company with an identical ticker symbol as the potential cause of recent volatility
- Support.com, the owner of the Nasdaq listing, undertook a substantial short position before October 20, 2021
- The company is confirming that it has no relation or business dealings with Support.com
- It has requested permission from the CSE to change its ticker symbol to avoid future confusion
- Sprout AI is a vertical farming technology company that designs and manufactures sustainable and scalable AI-controlled cultivation equipment for indoor farming
- Sprout AI (SPRT) is up by 10.93 per cent and is currently trading at $0.355 per share
Sprout AI (SPRT) has identified the potential cause of recent trading volatility.
Before October 20, Support.com, a Nasdaq-listed company with an identical ticker symbol to Sprout AI, undertook a substantial short position that resulted in the stock halting trading.
The company is confirming that it has no relation or business dealings with Support.com.
It has requested permission from the CSE to change its ticker symbol to avoid future confusion. At the time of registration, Sprout AI was not aware of any conflicts in the use of SPRT.
Chris Bolton, Sprout AI’s CEO, stated,
“We confirm that the Investment Industry Regulatory Organization of Canada is reviewing the information provided concerning possible explanations for this unexpected sell-off including, but not limited to, the possible mistaken identity Nasdaq: SPRT.
We have confirmed with IIROC that our major shareholder, TheraCann International, did not loan any of the company shares to a third party. The company also acknowledged that the previously filed Form 45 is no longer required.
On behalf of our shareholders, we wish to thank IRROC for allowing us to stay focused on our business, while they continue to monitor this situation closely.”
Sprout AI is a vertical farming technology company that designs and manufactures sustainable and scalable AI-controlled cultivation equipment for indoor farming.
Sprout AI (SPRT) is up by 10.93 per cent and is currently trading at $0.355 per share as of 9:31 am ET.