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Tag: LM Funding America

  • Here is why LM Funding America Inc. (LMFA) stock surged in the after-hours on Thursday?

    LM Funding America Inc. (LMFA) shares surged 14.29% in after-hours on Thursday, July 29, 2021, and closed the daily trading at $4.80. in regular trading, LMFA’s stock lost 5.41%. LMFA shares have fallen 39.13% over the last 12 months, and they have moved up by 7.69% in the past week. Over the past three months, the stock has lost 27.59%, while over the past six months, it has shed 44.00%.

    Let’s discuss its recent news and developments briefly.

    Acquisition of 5.2% LMFA stock by Custodian Ventures LLC

    On July 29, 2021, Custodian Ventures LLC filed a Schedule 13D announcing its acquisition of approximately 5.2% of the common stock outstanding of LM Funding America, Inc. (LMFA).

    LMFA recent financial results

    On May 14, 2021, LM Funding America, Inc. (LMFA) reported its financial results for the three months ended March 31, 2021.

    Q1 2021 financial highlights

    • LMFA reported revenue of $177 thousand in Q1 2021 compared to $341 thousand in Q1 2020.
    • It suffered an operating loss of 1,728 thousand in Q1 2021 compared to a loss of $561 thousand in Q1 2020.
    • In Q1 2021, net income was $$4.4 million, or $0.87 per basic common share compared to $0.55 million or $0.88 per basic common share in Q1 2020.

    LMFA Reverse Stock Split

    On May 06, 2021, LM Funding America, Inc (LMFA) announced a 1-for-5 reverse stock split of its outstanding common stock, which became effective at 12:01 a.m. Eastern time on May 7, 2021. LM Funding’s common stock started to trade on a split-adjusted basis on May 7, 2021.

    Digital Assets Strategy

    On April 26, 2021, LM Funding America, Inc (LMFA) announced plans to purchase up to $2 million in digital assets. The purchase of Bitcoin, Ether and other digital assets that are not securities is part of LMFA’s capital allocation strategy. This purchase represents approximately ten per cent of LMFA’s assets. In addition, LMFA is pursuing the development of transactional capabilities involving digital assets both organically and through potential acquisitions.

    Separate Trading of Class A Common Stock and Warrants

    On March 17, 2021, LMF Acquisition Opportunities, Inc (LMAOU) announced that, from March 18, 2021, holders of the units sold in the Company’s initial public offering elected to separately trade shares of the Company’s Class A common stock and warrants included in the units. Class A Common Stock and warrants that are separated will trade on the Nasdaq Capital Market under the symbols LMAO and LMAOW, respectively. Those units not separated will continue to trade on Nasdaq under the symbol LMAOU.

    Conclusion

    The recent 5.2% LMFA stock acquisition by Custodian Ventures LLC was the reason behind its surging in the after-markets on Thursday. it can continue to surge on Friday as well.

  • LM Funding America, Inc. (LMFA) stock is popping high today: What’s going on?

    LM Funding America, Inc. (LMFA) stock is popping high today: What’s going on?

    LM Funding America, Inc. (LMFA) stock announced the digital assets strategy today after which the LMFA stock price saw a push of 5.45% to reach $1.16 a share at the time of this writing. LMFA stock was green in the previous trading session and went up by 5.77% at closing. Let’s look at current scenarios.

    Digital Assets Strategy:

    LMFA stock announced today that it is planning to purchase digital assets of up to $2 million worth.LMFA will spend this amount in the purchasing of Bitcoin, Ether, and other digital assets that are not securities of this stock. This purchase will cover approximately 10% assets of LM Funding America. Moreover, these assets will provide an alternative to storing value in cash and cash equivalents and will help in the variety of transactions using blockchain technology in the future.

    On January 28, LMFA sponsored LM Acquisition Opportunities, Inc (LMAO) completed the upside initial public offering in which it generated $103.5 million of total proceeds. The management is optimistic that this new digital strategy of LMFA would make LMAO more attractive in terms of a financial technology business with the help of digital assets.

    LM Funding America stock is deeply focused on the development of its transactional capabilities and is planning to announce further developments in the future in terms of purchasing digital assets as well as material vendor relationships.

    Previous News:

    On March 18, 2021, LMFA stock did announce the separate trading of shares of its Class A common stock and warrants under the symbols “LMAO” and “LMAOW” in the Nasdaq Capital Market. The units that are not separated would continue to trade under the symbol “LMAOU”, reported at that time.

    Conclusion:

    It seems that rising momentum was already built by LMFA as it was going high in the previous trading session and today’s news about the purchasing of digital assets have added more hype to the rising stock price of the LMFA. Management is well aware that blockchain technology is the future and responding accordingly. In short, investors need to keep an eye on LMFA stock.

  • Profitable Stocks to Watch on a potentially Slow Day

    Profitable Stocks to Watch on a potentially Slow Day

    U.S markets are headed for a weak start to the day this morning. In early morning trading, the S&P 500, the Dow and the NASDAQ are all in the red. The weakness is in tandem with similar trends in the European markets where key markets are all in the red.

    The FTSE, the DAX, and the CAC 40 are all in the red this morning. This weakness follows data pointing to an increase in the number of COVID-19 infections and deaths. So far, the number of deaths from COVID-19 has crossed one million, and there is no clear cut solution to the problem at the moment. The fear of increased COVID-19 cases had dampened the mood in the market, even as investors wait for a possible stimulus package from the U.S government.

    The rising number of deaths has also affected the oil markets as crude oil prices drop due to the sustained decline in demand. According to an AxiCorp market strategist, investors are now watching for signs of demand increase in the U.S markets.

    Essentially, most markets are largely expected to trade in negative territory today. Despite the overall market weakness, there are stocks that are performing quite well this morning and are expected to do well in the day. Some of the top stock top performers this morning that could sustain momentum all through the day are as below:

    Westwater Resources Inc [NASDAQ: WWR]

    This is a top performer this morning and is up by over 50% pre-market.  The interesting aspect to it is that there is no major news driving the momentum. However, the stock, like others in its sector, has been gaining upside momentum lately.

    This is driven by increased demand for EV batteries as society increasingly adopts electric vehicles as a solution to fighting climate change. Part of this company’s portfolio is the exploration of lithium deposits, which are critical to the battery making process.

    Greenpro Capital Corp [NASDAQ: GRNQ]

    Greenpro Capital Corp is another top performer this afternoon and is up by over 50%. While there is no news around it, this stock is still riding on its earlier updates on its cryptoSX exchange and its Decentralized Finance businesses.  These are key growth areas as blockchain continues to revolutionize the finance world, and investors expect these two businesses to drive Greenpro business long term.

    LM Funding America Inc [NASDAQ: LMFA]

    LM Funding America Inc is also quite strong this morning and is up by over 21%. Like most top performers this morning, this is largely a price action driven move, triggered by an increase in buying volumes.