LM Funding America (LMFA) One The Verge Of Hitting New Highs

One of the stocks to have made a major move this past Friday was that of LM Funding America Inc (NASDAQ: LMFA). It is an affiliate of the SPAC or a special purpose acquisition company LMF Acquisition Opportunities and on Friday, it saw its stock soar by as much as 177%.

It is important to note that the SPAC had its initial public offering on Friday. The company offered as many as 7.5 million shares for $10 each with the target of raising $75 million.

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However, investors were clearly highly interested in the stock and sent the LMFA stock on a strong rally. It is important to keep in mind that the stock rallied another 56% in after-hours trading as well. It is likely going to be in focus among investors on Monday when the trading week commences and it could be a good idea for investors to keep an eye on the stock.

Richard McEntire

Finance and Entertainment Reporter Richard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.