[MCNetwork]

And I thought last night's earnings call was a little encouraging. Should I buy at these levels?

[TStein]

I put my life savings into ONDK, you should as well.

[AndyYSCISOdept]

My Pops has been doing well with Lending Clubs stock, it was down in the mid 6's and went up around 9 so his 10K shares really made a pretty penny.

[Michael I]

I put my life savings into ONDK, you should as well.

some people are not going to realize you're being sarcastic

[mcaguru]

https://www.google.com/finance?q=ond...EIeXmQG14oewDg

That's a cliff drop ! my heart goes out to the mom and pop investors.... 22% drop in 1 day is usually a sign of lack of confidence on wall street on the model (will see the stock is down from almost $30 and you would think the bargain hunters would be all over it!!)...


As a company they are the best!! if i had an ondeck sticker id put it on my car.

[AndyYSCISOdept]

The fact remains though that the same people giving the housing market their full backing (read: Moodys etc) back in 08 are the same one leading the feeling that ONDK and the like aren't secure even though the industry has created itself a nice foothold in the economy. Its too bad.

[Funder Mark]

I think we are very close to seeing the bottom of OnDeck, and from here the prices can only really go up. They are 25% of the IPO price, and have been relatively stable since August of 2015. Now may actually be the best time to go in.

[mcaguru]

I think we are very close to seeing the bottom of OnDeck, and from here the prices can only really go up. They are 25% of the IPO price, and have been relatively stable since August of 2015. Now may actually be the best time to go in.

Yep i put my self to sleep with the same theory at $12

Joke of the day:

One MCA broker asked another broker how hes sleeping at night since buying ONDECK at 26 bucks?? he replied like a baby!! to that his friend replied "your sleeping like a baby"??!!! he said yes i wake up evrey 2 hours and cry!!!!!!!!

[AndyYSCISOdept]

yep i put my self to sleep with the same theory at $12

joke of the day:

One mca broker asked another broker how hes sleeping at night since buying ondeck at 26 bucks?? He replied like a baby!! To that his friend replied your sleeping like a baby??!!! He said yes i wake up evrey 2 hours and cry!!!!!!!!

boom roasted

[J.Celifarco]

And I thought last night's earnings call was a little encouraging. Should I buy at these levels?

I can't find any info on the call from last night what did they say

[TStein]

I can't find any info on the call from last night what did they say

http://finance.yahoo.com/news/edited...070250321.html

[AndyYSCISOdept]

How many people here have any money in Lending Club?

[MCNetwork]

I can't find any info on the call from last night what did they say

They basically said that the future looks rosy for the company but they still lost money...

[FUNd]

They basically said that the future looks rosy for the company but they still lost money...

Guess that Chase partnership isn't blowing doors.

[mcaguru]

Many times these partnership announcements are in a metaphor way of speaking nothing more then pointing a shotgun at the bears/Short-sellers. (i am in no way saying its the case with ondeck and chase).

[Cfairbank]

For those that think that stock looks cheap, not sure it is unless you buy that they are purely a technology company, not a financial services company and that they'll always trade that way. Yes they've had great growth in originations, but they slashed EBITDA projections in half, despite a meaningful reduction in the loss provision. Before earnings were released (and the stock was subsequently slaughtered), they were trading at 35x 2017E EPS. Keep in mind private market multiples for companies in our space that don't trade as a tech platform are closer 4x to 8x LTM EBITDA.

[mcaguru]

For those that think that stock looks cheap, not sure it is unless you buy that they are purely a technology company, not a financial services company and that they'll always trade that way. Yes they've had great growth in originations, but they slashed EBITDA projections in half, despite a meaningful reduction in the loss provision. Before earnings were released (and the stock was subsequently slaughtered), they were trading at 35x 2017E EPS. Keep in mind private market multiples for companies in our space that don't trade as a tech platform are closer 4x to 8x LTM EBITDA.

Would that mean that if someone came to the stock broker with a $1 they would hand the buyer change? based on your calculation of private industry market value?!

All kidding aside stock will probably see better days!

[bsmith]

some people are not going to realize you're being sarcastic

Common sense isn't so common these days...

[Michael I]

just lost a deal where the 65% owner has a 9003 credit . best approval i had was 75k on an 6 month 1.38 . on deck funded him 250k on an 15 month at a1.34 . merchant averages 180k a month .

[Cfairbank]

Would that mean that if someone came to the stock broker with a $1 they would hand the buyer change? based on your calculation of private industry market value?!

All kidding aside stock will probably see better days!

Ha, fair enough. And agreed the stock will see better days. Still not sure the market knows how to value it in the long term, whether or not they are making money.

[GoodCustomerService]

When it's at $3 I'll buy. Then it's a good.

[Sean Cash]

How many people here have any money in Lending Club?

Just their notes, not their stock.

[MCNetwork]

I bought it earlier at $6.70. Will ride it out

[helpinghand]

ONDK will go up in smoke in 18 months...

1) Average annual coupon on entire portfolio was 108% prior to going public. In an effort to gain more business and turn a profit for public shareholders, they lowered prices. Average annual coupon in 2015 was 38%.

2) Also in an attempt to gain more business and turn a profit for public shareholders, they increased payouts to brokers, further squeezing margins.

3) They only have 8% on balance sheet funds. They've built the business with OPM (other peoples' money). At the slightest uptick of danger in the economy, their default rate will go up and lender/marketplace capital will get spooked.

Not to mention, they lie about performing vs. non performing loans by ACH'ing $1 out of accounts from borrowers in default. This way they can keep the loans on the books as "performing" instead of "non-performing".

The market FINALLY is pricing this in.

[helpinghand]

I should add, the alt lenders with big balance sheets (i.e. Credibly) will weather a recession. Market place businesses and those with very few on balance sheet funds will not.