LAFDI market report - Friday 11th December

By Rupert Taylor on Friday 11 December 2015

Alternative Lending

   

Weekly return

LAFDI

-1.89%

MSCI World

-0.83%

Top 5 performing Stocks in last week

1

LC US Equity

10.45%

2

TREE US Equity

5.75%

3

BAS1V FH Equity

2.74%

4

OPAY LN Equity

1.96%

5

CACC US Equity

1.29%

Worst 5 performing Stocks in last week

1

MONI LN Equity

-16.83%

2

IPF LN Equity

-9.79%

3

ONDK US Equity

-9.37%

4

TAXI US Equity

-8.14%

5

NEWS US Equity

-7.53%

 

* Returns are calculated for the week to local market close on Thursday.

After last weeks chunky out-performance this week the LAFDI gave back some its recent relative gains.  

The LAFDI produced a chunky week of out-performance delivering a whopping 3.81% on a relative basis.  A large chunk of the sector may have taken some cheer from the move by JP Morgan to work with OnDeck Capital.  To see a banking giant of such colossal proportions partner with an alternative finance lender is a significant validation of the model. 

Lending Club Corp had an unusually strong week.  In fact technical analysts will note that the stock has re-bounded strongly off the $12 level once again which may be interpreted as being signs of a bottom.  The stock has now risen towards $14 without any obvious news to drive the move.  However it is worth noting that there continues to be a significant short interest in the stock which could further support the enthusiasm of the chart watchers.  On the 9th of December short interest was reported to be 19.1% of the free-float shares. This equates to a days to cover of days to cover of 15.  It is also worth noting that there may have been some kind of delayed followed through to Lending Club from the implicit acceptance of the viability of the market place lending model provided last week by JP Morgan’s partnership with OnDeck Capital.  

Please note – The LAFDI is now available on Bloomberg.  Tickers:

LAFDITR GO for the Total Return Index

LAFDIPR GO for the Price Return Index

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Companies in this Article:

OnDeck
LendingClub

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