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Why Shares of Dave Are Surging This Week

TheMotleyFool

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Why Shares of Dave Are Surging This Week: https://g.foolcdn.com/editorial/images/859451/positive-person-1.jpg

Since the close of trading last week, shares of the neobank (NASDAQ: DAVE) traded roughly 7.2% higher, as of 12:46 p.m. ET Friday. Shares had risen as much as 11% on Thursday amid a packed week for the company, during which it reported earnings and announced a convertible debt raise.

Since going public through a special purpose acquisition company (SPAC) at the very start of 2022, Dave has seen its shares crushed, only to have made a strong comeback that began in 2024. The stock is still down 33% since its original SPAC days, but investors who bought in mid-2022 or 2023 have made incredible gains.

Image source: Getty Images.

Source Fool.com