LM Funding America LMFA ready?


LM Funding America LMFA has been bearish for almost a month and I believe it is almost ready to reverse it’s trend, stay tuned! To review the bird’s eye view, keep on reading.

LM Funding America LMFA Company Summary

Company Name: LM Funding America, Inc.

Ticker: LMFA

Exchange: NASDAQ

Website: https://lmfunding.com/

LM Company Summary:

LM Funding America LMFA, together with its subsidiaries, is a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida, as well as in the states of Washington, Colorado and Illinois, by funding a certain portion of the associations’ rights to delinquent accounts that are selected by the Associations arising from unpaid Association assessments.

The Company has also announced that it is entering the cryptocurrency mining business through a new subsidiary, US Digital Mining and Hosting Co., LLC.

What was the last news for LMFA?

Oct. 19, 2021

Announced the closing of its previously announced underwritten public offering of 6,315,780 shares of its common stock and warrants to purchase up to 6,315,780 shares of the Company’s common stock. Each share of common stock was sold in a unit together with one common warrant at a public offering price of $4.75 per unit, for gross proceeds of approximately $30 million, before deducting underwriting discounts and offering expenses.

The common warrants have an exercise price of $5.00 per share of common stock, are immediately exercisable and will expire five years from the date of issuance. In addition, LM Funding has granted the underwriters a 45-day option to purchase up to an additional 947,367 shares of common stock and/or common warrants to purchase up to 947,367 shares of common stock, at the public offering price less discounts and commissions, of which Maxim Group LLC has exercised its option to purchase an additional 947,367 warrants.

LMFA 1 Month Chart

LMFA 1 Day Chart

LM Funding Technical Analysis

This stock has been falling like a tree in British Columbia Canada, for a long time, almost a month. What comes up must comes down and this has come down, so I’m looking for a bounce soon.

It reversed it’s bearish trend yesterday but it may be a head fake. Make sure you always wait for a double confirmation before considering investing. The second reversal point is $4.60. As a reminder, a second reversal is not a guarantee of a bullish move, it is a signal. Trade carefully always and with stop losses.