LendingClub Shares Surge After Fed Rate Cut

LendingClubs shares surged by 4.6% following the Federal Reserves interest rate cut, with investors anticipating a more favorable environment for fintech companies. The stock, known for its volatility, closed up 4.4% at $20.62 per share. An investment bank recently named LendingClub its Top Pick, suggesting a potential 33% upside. The companys shares have risen 27.8% this year and reached a new 52-week high, with a $1000 investment from five years ago now worth $2266.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.