How This Fintech Plans to Profit From Higher Interest Rates
It's no secret that the market is off to a slow start this year. Investors are concerned as inflationary pressures persist, interest rates rise, and geopolitical uncertainty is high. As a result, the entire stock market has gotten beaten up, with the S&P 500 down 17% and the Nasdaq down 27% year to date.
One stock caught up in all this selling is LendingClub (NYSE: LC). The personal lender changed its business model in the last couple of years and rapidly grew its earnings.
Despite raising its earnings guidance during its recent earnings call, the stock has gotten beaten up alongside the rest of the market. Since peaking in early November 2021, LendingClub stock has lost 74%. However, the company stands to benefit from rising interest rates and looks like it could be an excellent value for investors.
Source Fool.com
