LENDING CLUB CORP (LC) Soars In IPO Debut

Mark Melin

Published onDecember 11, 2014

Updated on May 13, 2021

As Wall Street plans two closely watched initial public offerings, one is being viewed as bell weather for financial venture capital investing, and the other being viewed as another high priced Chinese stock offering, the backbone of the financial system will be tested today.

LENDING CLUB CORP (NYSE:LC) received a buy recommendation from BTIG yesterday, establishing a $19 price target in advance of its IPO today. (This price target could be hit at the open, as the IPO is being priced near $23 at press time, and currently trading at $23.31.) This comes on the day Momo, a Chinese social networking and dating application, is launching with a $2.5 billion valuation.

Lending Club should be able to sustain its growth...

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Mark Melin

Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

LENDING CLUB CORP (LC) Soars In IPO Debut

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