LMFA Stock: LM Funding America Sees Wild Move After Ex-Reverse Split

LM Funding America Inc (NASDAQ: LMFA) is witnessing very high volatility as the stock priced in for reverse split.

LMFA Stock: LM Funding America Sees Wild Move After Ex-Reverse Split

The stock is not traded on a split-adjusted basis after closing at $0.7590 yesterday. So it means, if you were holding 10 shares of LMFA stock as of yesterday, now it has become 2 shares.

Practically, it doesn’t affect your portfolio as the stock price is being adjusted by 5X of yesterday’s closing price i.e $3.80.

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However, sometimes reverse split does boost sentiment and stock turns volatile.

After opening lower by about 6%, LMFA stock bounced back nicely and soared as much as 68% a few minutes back. However, the stock has moved back a bit and now trading higher by 22.70% at $4.66.

More than 2.79 million shares have been traded so far, compared to its average volume of 2.17 million shares.

 

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life