SURG does have an interesting looking chart for a possible trade. The chart setup looks like it's getting ready to move up thru 5, and it just had a golden cross.
I see on Wednesday they announced they'll be added to the Russell Microcap Index, to become effective on June 24. So could be considerable buying by numerous index funds.
Business-wise, they occupy some interesting niches, although the stock hasn't done very well over time, based on the chart. SURG has a very small float per Yahoo Finance (8.2 mil shares), and a considerable short position, ~7% of the float, so could be some short covering. Revenue is $62 mil, which grew 92% in recent quarter, although net income is a negative ~$10 mil, and cash flow is also negative.
Anyway, looks like it might be a good idea for a near term trade. Longer term maybe not so great, but would have to do more research.
One thing about the fintech related areas that worries me for the longer term is what will happen when the CBDC/Central Bank Digital Currency enters the picture? I think that's a concern Wall St is having over fintech sector in general, even big names like Visa and the banking sector itself. There is uncertainty over what role they will have under the coming CBDC paradigm, when every transaction will (presumably) go thru the Fed/central bank.
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