I'm going to keep resurrecting his old posts until he runs off with his tail between his legs.
Traditionally, the market revs up on the first trading day following a holiday weekend, all things being equal. I expect a surge in LC buying interest next Tuesday 5/31.
If you've already shorted, thank you for providing future guaranteed price support to LC. I just want to make sure any weak long term holders get flushed this week (hedge fund managers and mutual fund manager types). Please dump your shares at any price this week. The EOQ is approaching and you don't want your fellow fund managers laughing at you for holding LC. That's what's important after all. It's not like you have any conviction. It's not like you're managing your own money either! Ha Ha Ha! Who cares if it's client money!
Thanks for lining my pockets with your cash jack ball! You know what they say about a fool and his money.
...just a reminder.
All bad news is out. Shorty sucked it up like a lap dog. He's about to get slaughtered. This incident will be viewed as a hiccup in the rise of Lending Club soon to be worth hundreds of billions...market share stolen from archaic brick and mortar banks that refuse to adapt. Stop buying Jamie Dimon a 12th yacht. Invest with LC.
A bargain at $4
Ironic. When you have a board that acts immediately in the best long term interest of the shareholders as a result of a minor offense, the company and its shareholders are severely punished by a child-like weak willed short term market. In a few years, this will be viewed as a tremendous opportunity.
Why are those Obama buffoons jumping in front of the SEC? Dems must need some cheap publicity at LC's expense. If it goes to $1 I'm tripling down. LC will be my moonshot.
I don't believe the business model is dead at all. Laplanche started LC because he noticed he was paying 16% interest on a bank credit card and receiving near 0% on a savings account with the same bank. That situation at the old brick and mortar banks has not changed. Their overhead is horrendous. P2P lending is here to stay...it eliminates much of that inefficiency. The LC name is tarnished for the moment...maybe forever or maybe not. To me, this doesn't seem like something that cannot be overcome.
Hedge fund and mutual fund managers are dumping LC at any price so it doesn't appear on their Q2 list of holdings. They've created an inefficiency in the market...exactly the type of thing the same fund managers claim to exploit through their expertise and insight. I recommend everyone pick up some LC here and hang on for a wild ride. It's worth every bit of $4 a share. LC created a new market that steals business from the old banking and credit card business models at a fraction of their overhead costs. It's a growth story, and in the long term, growth is the only thing that commands higher valuations over time.
At $4 a share, the company could buyback up to 18% of outstanding shares. That's what's been authorized for buyback as of May 9th. $280M / $4 = 70M shares. 381M shares outstanding could become 311M. That's a major buyback.
...to see a new CEO announced very soon. This is an exciting fintech enterprise...arguably the biggest and most promising and many candidates will want the job. The all-star Board at LC will pick a go-getter and the share price will bounce. Give them a few weeks. They probably already have several in their sights. Personally I believe it is crazy to short LC here.