Why LendingClub Stock Soared 11% Today

Shares of peer-to-peer lending platform LendingClub (NYSE: LC) shot 11.3% higher today as of market close. It was a nice relief rally for shareholders after a tough couple of months. Set off by a coming raise in interest rates this year, the stock has been halved in value from its last peak at the beginning of November 2021. 

Zooming out a bit, though, LendingClub has rallied an incredible 117% in the last year as its multiyear makeover starts to pay off.  

Image source: Getty Images.

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Source Fool.com