Why KULR Technology Stock Is Surging Today

Key Points

• KULR stock initially saw massive gains after it was announced that the company had secured a $20 million loan from Coinbase Credit.

• The company's stock has since given up most of the early gains powered by the news.

• KULR's shift to a Bitcoin-focused company could spur pops for the stock, but the long-term outlook is unclear.

• 10 stocks we like better than KULR Technology Group ›

KULR Technology (NYSEMKT: KULR) stock is seeing huge volatility in Tuesday's trading on the heels of fresh financing news. The company's share price was up 3.7% as of 11:15 a.m. ET, and had been up as much as 23.3% earlier in the session.

KULR announced today that it had received a $20 million loan from Coinbase Credit, a subsidiary of Coinbase Global. The funding will be used to advance KULR's Bitcoin treasury strategy.

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KULR stock rallies on Bitcoin treasury news

KULR says that the $20 million loan it has received through Coinbase Credit has been backed up with Bitcoin it already owned, and that the new deal has provided it with additional capital without diluting its stock through new share sales. While the announcement initially powered an explosive rally for the stock, the gains have largely faded as investors have had more time to digest the news.

What's next for KULR stock?

KULR stock has been highly volatile over the last year, and it's likely that the company's share price will continue to see big swings in the near term. The initial surge for the stock today despite the news of the $20 million loan being relatively minor in the grand scheme of things reflects the potential for KULR to see big pops on relatively small news, but the subsequent sell-off also reflects the high-risk nature of the stock.

KULR has pivoted to being a Bitcoin-focused company and is seemingly aiming to replicate elements of the game plan that Strategy (formerly known as MicroStrategy) has been able to successfully orchestrate. Along with meme stock-related momentum, news about Bitcoin acquisitions and financing pushes could cause spikes for the company's valuation. On the other hand, successful execution over the long term is no sure thing -- and the stock looks risky.

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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool recommends Coinbase Global. The Motley Fool has a disclosure policy.