Why loanDepot Stock Was Up 8.4% This Week

loanDepot (NYSE: LDI) got a much-needed boost this week. Its stock has risen 8.4% to about $2.07 per share as of Friday morning at 11:00 a.m. ET, according to S&P Global Market Intelligence. That's an increase of 25.5% year to date. loanDepot was up by as much as 12.6% at one point during the week. 

The market was sluggish this week, as the S 500 has risen 0.6%, the Dow Jones Industrial Average 0.5%, and the Nasdaq Composite 0.4% as of Friday at 11:00 a.m. ET.

loanDepot is a mortgage lender and loan refinancing company that went public in 2021, when the refinancing boom was in full force. But shortly thereafter, the market turned as inflation rose, interest rates soared, and the real estate market dried up. As a result, loanDepot has seen its stock price plummet 65% and 74%, respectively, over the previous two years.

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Source Fool.com