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Tag: LMFA stock

  • 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.