Down 75% From 2021 Highs, History Says This Fintech Could Rocket Again
Financial stocks are particularly interesting right now. In the span of just five years, the sector has been battered by the COVID-19 downturn, rising interest rates, and the bankruptcies of several regional banks. But in a "normal" period of steady growth and an uninverted yield curve, these overlooked names could be in for a comeback.One intriguing financial stock is personal loan provider LendingClub (NYSE: LC). While the stock has nearly tripled since its late 2023 lows, it nevertheless remains 75% below its 2021 highs.LendingClub had to be nimble during the recent downturn as the marketplace demand for its loans dried up amid rapidly rising interest rates. But with rates on the path to normalizing and long-term yields now above short-term yields once again, LendingClub is arguably in a much stronger position today than even in early 2021.Continue reading
Financial stocks are particularly interesting right now. In the span of just five years, the sector has been battered by the COVID-19 downturn, rising interest rates, and the bankruptcies of several regional banks. But in a "normal" period of steady growth and an uninverted yield curve, these overlooked names could be in for a comeback.
One intriguing financial stock is personal loan provider LendingClub (NYSE: LC). While the stock has nearly tripled since its late 2023 lows, it nevertheless remains 75% below its 2021 highs.
LendingClub had to be nimble during the recent downturn as the marketplace demand for its loans dried up amid rapidly rising interest rates. But with rates on the path to normalizing and long-term yields now above short-term yields once again, LendingClub is arguably in a much stronger position today than even in early 2021.
