No. Any increase in stock basis subsequent to the issuance of stock is not §1244 stock [Reg. §1.244(d)-2]. 

Example: For $10,000 a corporation issues 100 shares of §1244 stock to X. X later contributes $2,000 to the capital of the corporation and this increases the total basis of his 100 shares to $12,000. Subsequently, he sells the 100 shares for $9,000. Of the $3,000 loss, $2,500 [($10,000/$12,000)*$3,000] is allocated to the portion of the stock that qualifies as §1244 stock and the remaining $500 is allocated to the portion of the stock that does not so qualify. Therefore, to the extent of $2,500, the loss may be treated as an ordinary loss assuming the various requirements of §1244 stock are satisfied. However, the remaining $500 loss must be treated as a capital loss.