Renton on Twitter:
The open for @LendingClub is indicated
at $20 - $22 #lendingclubipo open for
trading very soon
indication now 21-23
where are you guys seeing this?
search "$LC" in twitter
$22-24 says CNBC
Peter Renton
@LendAcademy
The excitement is building here. $LC now indicated $22-$24. Holy cow! #lendingclubipo @LendingClub
did it just open at 24 ?
no open yet. Indicated at 23-25 now.
Did Laplanche get to ring the bell?
Where can I find a pic?
UPDATE: Here you go, skip ahead to 3:30
http://new.livestream.com/NYSE/lendingclub
Now $23-25
The US stock market just had a 3-day selloff, so traders are hungry today.
Unfortunately I don't see Stephanie in that photo. The guy in the back looks like he got into the sauce a bit early this morning.
Opens at 24.75. 5,759,264 shares
Out at $25....maybe a fool for not letting it ride, but been burned before acting greedy.
So, all of you folks that are anxious to sell and take a quick profit, why not at least wait the 3 weeks until 1/1/2015? Sell now, and you not only will pay income tax at regular income rates, you also will get to pay that with your 2014 taxes. At least if you wait until 1/1, you won't have to pay until 4/15/2016. Of course, if you wait until 12/11/2015, you can pay at the capital gains rate, too, rather than the regular rate. Just something to think about.
Unfortunately I was only given 150 shares but I got out at $25
Someone with experience, help me out here:
I got 250 shares. I don't know much about investing in stocks directly and I want to sell them.
I transferred money to my Fidelity account, but the transfer isn't final yet. Can I sell the shares immediately without invoking a "Good Faith Violation"? And what are the consequences of that, anyway?
tes you can sell immediately.
You can use the Capital gain on the sale to offset the capital losses caused by LC write offs of investors notes. Its a win win
I'm taking out a 35000 dollar loan to buy LC shares fue fue fue
For all the people that were getting the error message.
I was as well when trying "sell all shares" option on the order screen. If instead you type in 250 shares it went through
LC up a bit on the open.
LC showing resilience on a down day, I like it. How long will we get an irrational exuberance premium?
I'd rather have my defaults give me a $3,000 tax deduction than have those losses wiped out by offsetting them against the gains sale of LC stock.
Why sell instead of just utilizing a trailing stop loss order? Do you live paycheck to paycheck and absolutely need the money right now? Not me, I plan for the future.
The way I see it is that on Dec 10th, I made the decision to risk $3,750 on this company. A lot of people were saying to pass on this loser IPO since it was overvalued at $15 (versus the original $10-$12 range, which was still overvalued). I disagreed and stood by this company.
On Dec 11th, after open, I put in a stop loss order at $22.00, locking in the original $3,750 I risked plus an additional $1,750 of profits. So the only money left that I am risking is additional money gained. Currently the share price is about $24.50, so I am only risking 250 x (24.50-22) = $625 of found money. If I was willing to risk $3750 of my own hard earned money on this company, I certainly have no problem risking $650 of found money.
I'd suggest being patient and putting in an appropriate stop loss order unless you need the money right now.
I'm happy for people who are enjoying the ride, but I have to think that LC wouldn't willingly let so much money stay on the table. Why not have $1.5B or $2B in the coffers? The underwriters probably had some of the best people in the business trying to value the company and put a fair price tag on it. That's $15, up given the significant investor interest. With a +60% valuation in one day, so much future growth is baked in that I don't at all blame people who got out at the open. It could stay there for months; it could drop down tomorrow. It's impossible to say. Unrealized gains are opinions.
My philosophy is simple regarding holding or selling:
1) No one ever went broke taking a profit
2) A fast nickel is better than a slow dime
3) When in doubt, pass
And, as for my decision on whether or not to hold LC stock...
1) No one ever went broke taking a profit especially 66% in 2 hours
2) $2500 in 2 hours beats $5000 in 12 month IF it happens
3) I don't know if I should hold so I passed
Point being: LC was up big time when the rest of the market was in the tank this past week so... I feel it's enthusiasm fueling the market and what goes up usually comes down. I'll wait for the downturn or inevitable drop then buy in. And if I miss it, so be it. That $2500 will be earning for me so it's a wash and safer selling.
That concludes this episode.
Currently at $27.5
Amazing.
Hopefully they'll do something with all this momentum. Would be great to see their first report wildly profitable with 100% revenue growth.
Bumped up my stop loss order $2 today. The order was getting pretty close to executing (about $0.50 per share away). It appears the shares are up about $0.50 in after hours trading, so we'll see what tomorrow holds.