Finance company LM Funding America’s (LMFA) shares have surged with soaring bitcoin prices over the past few months. Moreover, the company reported impressive financials for the second quarter. So read on to learn why it could be wise to add the stock to one’s portfolio now.Specialty finance company LM Funding America, Inc. (LMFA) provides funding to nonprofit community associations primarily, focusing on associations in Florida, Washington, Colorado, and Illinois. The Tampa, Fla.-based company announced a 1-for-5 reverse stock split on May 6, 2021 to ensure continued compliance with Nasdaq’s $1 minimum bid price requirement. Over the past six months, the stock has lost 10.4% in price to close Friday’s trading session at $4.75.
However, the stock has gained 20.6% over the past three months and 39.6% over the past year. The shares surged in the last trading session due partly to possible meme traders’ interest in it and rising bitcoin prices. Moreover, LMFA’s top and bottom lines improved significantly in the second quarter. So, the stock’s near-term prospects look bright.
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