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General Lending Club Discussion / Short Squeeze or the Real Deal?
« Latest by Rob L on December 01, 2020, 12:00:00 AM »
LC stock has been on a tear since putting in an opening low on 10/29 of $4.42. It was the third time it tested lows in that area.
They announced earnings after the close on 11/4. The stock had moved upwards to $5.55 into the close before earnings were announced.
The day after earnings were announced (11/5 Thursday) the stock was essentially unchanged on very heavy volume.
The next day 11/6 it was hammered back down to $4.99.
Before the open on Monday 11/9 Pfizer announced terrific results of their clinical vaccine trials and everything went up, including LC to $5.60
Things went sideways until 11/18 when LC soared up inexplicably on very heavy volume to close at $6.53.
On 11/20 it closed above its 200 day simple moving average $6.50.
It's been more or less straight up since then and LC closed today at $8.22 on heavy volume, up 86% from the low cited earlier.
However, closing at the low of the day today that saw a high of $8.68 should make tomorrow interesting. I have found absolutely no explanative LC news.
The message is either shorting in a bull market is dangerous or LC has better prospects ahead?
For the record I am neither short nor long, just an interested bystander.

Investors - LC / Collections when the Notes platform is discontinued
« Latest by TravelingPennies on November 29, 2020, 12:00:00 AM »

I am trying to figure out when my LC account winds down.

Fortunately when they announced folio was closing I decided to get out, and started selling all my notes. I tried to sell everything with >6m left, and succeeded in unloading most of it. I'm left with only six notes that mature >6m from now, which were hardship loans I was unable to trade. The rest of my portfolio is going to wind down to zero in the next 5-6 months.

However, I see in my activity that recoveries are still pretty significant. I am wondering for how long?

To use round numbers, I'm trying to estimate this: If I had $1000 worth of notes go bad in year X, how many recoveries do I expect in year X+1, X+2, X+3, etc.
Investors - LC /
« Latest by AnilG on November 26, 2020, 12:00:00 AM »
I didn’t have much direct exposure to LendingClub and Prosper, no IRA, just regular accounts for myself and wife. It was always part of my play money allocation. At this point, I have withdrawn all cash from both LC and Prosper. Not interested in any other platforms. With what happened to Direct Lending fund, I am not willing to handover money to anyone promising certain return without me understanding drivers of that return, checks and balances in place, and proper due diligence. Majority of play money is now in individual stocks with some allocated to algorithm based trading and angel investing.

But I did quit job to work on PeerCube full time for few years so indirectly that was huge exposure to p2p social lending. I still believe in p2p social lending and in the original Prosper founder vision of auction style interest rate setting with proper guardrails and lender syndication. I am sure someone will figure out in the future how to make it work.
Introductions / Hello Everyone
« Latest by macroman7799 on November 24, 2020, 12:00:00 AM »
Welcome. You will find that there is not much going on but please check it out.
General P2P Lending Discussion /
« Latest by macroman7799 on November 24, 2020, 12:00:00 AM »
Years ago I was declined for a Prosper loan because my debt to income ration and revolving balances were too high. I did get to talk to an underwriter but it did not help I was still declined.
Investors - LC / Collections when the Notes platform is discontinued
« Latest by macroman7799 on November 24, 2020, 12:00:00 AM »
I think that Lending Club collections are already getting less emphasis. I checked the detail pages on 3 past due notes and none of these had any new collection notes.
Investors - LC /
« Latest by macroman7799 on November 24, 2020, 12:00:00 AM »
I'll be transferring my LC assets to an IRA to invest in stocks. I am using Motley Fool Stock Advisor to supplement my research.
Investors - LC /
« Latest by Rob L on November 23, 2020, 12:00:00 AM »
Investors - LC /
« Latest by flyp52 on November 23, 2020, 12:00:00 AM »
I'm happy with Fundrise too. Started transitioning in 2016 to Fundrise, Realty Mogul, Realty Shares (defunct), Crowdstreet, Lending Home.
Investors - LC /
« Latest by dr.everett on November 22, 2020, 12:00:00 AM »
Fundrise- been on it several years now. Very happy with them.