LendingClub Explodes 40% After Earnings: Here's Why It Can Go Even Higher
Long-suffering shareholders of LendingClub (NYSE: LC) got extremely good news yesterday, after the company reported blowout second-quarter earnings. But more than the mere earnings beat, the second quarter also marked the first full quarter since its acquisition of Radius Bank, which closed back in February. Now as a hybrid digital marketplace bank, rather than a mere fintech platform, LendingClub's new business model appears to be bearing fruit in a big way.
That sea change is why the company was up more than 40% after hours following the report on Wednesday evening.
LendingClub shareholders are celebrating today. Image source: Getty Images.
Source Fool.com
