Why Lending Club Skyrocketed 18% Higher Today
Lending Club (NYSE: LC) was touched by hot stock market hand Cathie Wood on Friday. As a result, its shares were on fire throughout the day, ultimately closing 18% higher.
Wood's ARK Fintech Innovation (NYSEMKT: ARKF) exchange-traded fund (ETF) snapped up roughly 228,500 shares of Lending Club the previous day.
Lending Club is a value stock play at the moment. The company, which operates a peer-to-peer loan platform, has been trying to pivot its business since a scandal involving top management's falsifying of documents broke in 2016.
Source Fool.com
