Why Shares of LendingClub Are Rising This Week
For the week, shares of the digital marketplace bank LendingClub (NYSE: LC) traded nearly 12% higher as of 3:24 p.m. ET Thursday for no obvious reason other than the broader rally among tech and fintech stocks in recent days.
LendingClub is largely in the business of using technology and machine learning to originate online personal loans, largely to prime borrowers.
The company, founded in 2006, transformed its business model when it completed the acquisition of Radius Bank early in 2021, which effectively made LendingClub a bank.
Source Fool.com