Mine has the bakelite stock but folds. Like mentioned above the hinge is very stiff on them. I shoot mine at the range and never had an issue. The little Velcro tab is to protect the receiver from marks when you fold the stock up. Some one added it I think. Not sure what you paid but I paid like $400 for mine like 20 years ago. I see them going for up to $1200 to $1400 lately