Lending Club (LC) - Diamond in the rough
Lending Club - absolute monster growth potential.
5 reasons why LC should be on your radar:
1. We are out of a long term falling wedge. Technical breakout is making it interesting.
2. Lending Club just bought Radius Bank which is an online bank. Virtual wallets is a 2021 trend that is shaking up traditional banking model. Mobile phone is now your bank branch. This move is clearly showing that LC is moving in this space.
3. All-in-one service. You can borrow, lend, bank, etc. through the new model that they are working on.
4. ARK and a number of other ETFs have stake in LC.
5. Anti institutional movement will drive customers to LC since LC skips the banker and promotes peer-to-peer transactions.
In my opinion it is a FinTech company that has a chance to disrupt banking sector. I dont think it will have a massive market share but it will serve a niche market. I like niches and this one has everything going for it as long as they can attract the consumer.
Copy paste from their PR release:
SAN FRANCISCO, Feb. 18, 2020 /PRNewswire/— LendingClub Corporation (NYSE:LC), America’s largest online lending marketplace connecting borrowers and investors, today announced that it has signed a definitive agreement to acquire Radius Bancorp, and its wholly owned subsidiary Radius Bank, (together “Radius”) recently voted the nation’s best online bank1 in a cash and stock transaction valued at $185 million. Combining Radius and LendingClub will create a digitally native marketplace bank at scale with the power to deliver an integrated customer experience, enabling consumers to both pay less when borrowing and earn more when saving.
5 reasons why LC should be on your radar:
1. We are out of a long term falling wedge. Technical breakout is making it interesting.
2. Lending Club just bought Radius Bank which is an online bank. Virtual wallets is a 2021 trend that is shaking up traditional banking model. Mobile phone is now your bank branch. This move is clearly showing that LC is moving in this space.
3. All-in-one service. You can borrow, lend, bank, etc. through the new model that they are working on.
4. ARK and a number of other ETFs have stake in LC.
5. Anti institutional movement will drive customers to LC since LC skips the banker and promotes peer-to-peer transactions.
In my opinion it is a FinTech company that has a chance to disrupt banking sector. I dont think it will have a massive market share but it will serve a niche market. I like niches and this one has everything going for it as long as they can attract the consumer.
Copy paste from their PR release:
SAN FRANCISCO, Feb. 18, 2020 /PRNewswire/— LendingClub Corporation (NYSE:LC), America’s largest online lending marketplace connecting borrowers and investors, today announced that it has signed a definitive agreement to acquire Radius Bancorp, and its wholly owned subsidiary Radius Bank, (together “Radius”) recently voted the nation’s best online bank1 in a cash and stock transaction valued at $185 million. Combining Radius and LendingClub will create a digitally native marketplace bank at scale with the power to deliver an integrated customer experience, enabling consumers to both pay less when borrowing and earn more when saving.
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