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.
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.
Finance and Entertainment Reporter
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