Why Open Lending Stock Climbed 29% This Week
Open Lending (NASDAQ: LPRO) had an excellent week, as its stock was up 29% as of 1 p.m. ET Friday, according to S&P Global Market Intelligence. The auto loan specialist's stock was trading at about $9.45 per share, gaining roughly 40% year to date.
Open Lending, founded in 2000, offers automated lending services to financial institutions that provide auto loans. It specializes in loan analytics, risk-based pricing, risk modeling, and automated decision technology.
The catalyst for this week's surge higher was solid first-quarter earnings that handily topped analysts' projections.
Source Fool.com
