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We recently compiled a list of the 10 Micro-, Small-Cap Firms Were Last Week's Top Performers. In this article, we are going to take a look at where Fold Holdings, Inc. Class A Common Stock (NASDAQ:FLD) stands against the other stocks.
Micro- and small-cap companies dominated the stock market last week, clocking in impressive gains on the back of a flurry of catalysts that boosted investing appetite.
We named last week’s top 10 performers that outperformed the Russell 2000 index, which dropped by 4.04 percent week-on-week. Among them, one firm particularly stood out with its outstanding 317-percent jump, thanks to a $1-billion deal that could fuel its growth prospects.
To come up with the list, we considered the stocks with the highest week-on-week change, comparing their share prices on March 7 and February 28.
We classified micro-cap companies as those with a market capitalization below $300 million and small-cap firms as those with a market capitalization below $2 billion.
A close-up of a laptop with a Bitcoin ecosystem monitor running in the background.
Fold Holdings, Inc. Class A Common Stock (NASDAQ:FLD)
Fold Holdings, Inc. Class A Common Stock (NASDAQ:FLD) grew its share price by 44 percent week-on-week to end Friday’s trading at $7.58 apiece versus the $5.26 finish on February 28 following news that it hiked its Bitcoin ownership by 475.
Following the purchase, Fold Holdings, Inc. Class A Common Stock (NASDAQ:FLD)’s total Bitcoin ownership now stands at 1,485.
According to Fold Holdings, Inc. Class A Common Stock (NASDAQ:FLD), it financed its new acquisition through the issuance of convertible notes at a 100-percent premium with a conversion price of $12.50 per share.
Fold Holdings, Inc. Class A Common Stock (NASDAQ:FLD) CEO Will Reeves also said that Bitcoin will play a huge role in the foundation of a new financial era, which FLD promised to support moving forward.
Reeves emphasized that Bitcoin’s corporate treasury serves a dual purpose by providing value to investors seeking Bitcoin exposure while also functioning as a strategic reserve to support its Bitcoin-native financial products.
Overall FLD ranks 9th on our list of last week's top performers. While we acknowledge the potential of FLD as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than FLD but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.