LendingClub Corp (NYSE: LC)
LendingClub was off to a relatively normal day in the market today. While the stock has been in the green since the open, the gains haven’t been much to write home about. Nonetheless, that changed minutes ago as the stock started to spike. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to LC ahead.
What We’re Seeing From LC
As mentioned above, LendingClub was off to a relatively normal trading session at the open of the market. While the stock started heading up and has been in the green since, the gains simply weren’t anything special. However, that’s all changing at the moment, as the stock is spiking upward. Currently (10:28), LC is trading at $6.06 per share after a gain of $0.08 per share (1.34%) thus far today.
Why The Stock Is Headed Upward
As always, as soon as the CNA Finance team saw that LC was heading up, we went to work to see if we could find the underlying cause of the movement. While the company hasn’t released any fundamental news that would lead to such a high momentum spike upward, it didn’t take long to dig up the cause.
If you do a quick search on your favorite social network surrounding LendingClub, chances are that you’re going to dig up a rumor. At the moment, there’s a rumor going around that the company is going to be acquired. The rumor even goes as far as to say that Goldman Sachs is involved in the acquisition and that the price will be $10 per share.
What We’ll Be Watching For Ahead
First and foremost, it’s important to keep in mind that the movement is being cause by rumors at the moment. Neither LC nor Goldman Sachs have confirmed the claims. Nonetheless, if this rumor proves to be true, the price will represent an incredible premium, bringing strong value to shareholders. We’ll keep a close eye on the story and bring you updates as they happen.
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