Mark Holder
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Mark Holder in Out Fox The $treet,

LendingClub: Must Own Above $6

Fintech stocks like LendingClub (LC) and OnDeck Capital (ONDK) are surging today presumably on news that loan securitization for the sector are on the rise. 

The rally brings LendingClub right to $5.90. The stock is close to breaking key resistance near $6. 

The sector hasn't gotten much respect lately despite good results. Elevate Credit (ELVT) reported a Q1 EPS beat of $0.5 and grew revenues by 20%. The stock though still trades far below the original IPO expected range. OnDeck Capital has struggled, but still offers an intriguing value. 

My best bet is LendingClub on any move beyond the 200ema that now sits at $5.97. 

Disclosure: Long LC, ONDK