Title: LC Stock Does 5 for 1 Reverse Split
Post by: Rob L on July 08, 2019, 11:00:00 PM
Post by: Rob L on July 08, 2019, 11:00:00 PM
As of yesterday 7/8/2019 LC implemented a 5 for 1 reverse stock split.
Owners now have one fifth the number of shares they owned the previous day.
The current price is $15.25 per share which would equal $3.05 per share (pre-reverse).
Might be a good thing as I seem to remember that many large mutual funds have rules against holding stock priced less that $10.00. I've been a bit more positive on the company since they announced they were moving 350 jobs to Utah. A much needed step in the right direction.
Owners now have one fifth the number of shares they owned the previous day.
The current price is $15.25 per share which would equal $3.05 per share (pre-reverse).
Might be a good thing as I seem to remember that many large mutual funds have rules against holding stock priced less that $10.00. I've been a bit more positive on the company since they announced they were moving 350 jobs to Utah. A much needed step in the right direction.
Title: LC Stock Does 5 for 1 Reverse Split
Post by: Fred93 on July 08, 2019, 11:00:00 PM
Post by: Fred93 on July 08, 2019, 11:00:00 PM
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on August 05, 2019, 11:00:00 PM
Post by: TravelingPennies on August 05, 2019, 11:00:00 PM
Well, for whatever reason they did a reverse 5:1 split; taking the shares above $10.
Certainly agree about making a profit! they aren't Amazon
For the record I don't own their shares and can't imagine I ever will (again).
Certainly agree about making a profit! they aren't Amazon
For the record I don't own their shares and can't imagine I ever will (again).
Title: LC Stock Does 5 for 1 Reverse Split
Post by: rawraw on August 17, 2019, 11:00:00 PM
Post by: rawraw on August 17, 2019, 11:00:00 PM
Fred, what do you mean profits? They make loans for less than a bank and will take over 😂
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
What multiple does LC trade at now?
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Since they have no earnings then by definition they have no multiple; right?
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Post by: TravelingPennies on September 30, 2019, 11:00:00 PM
Right. The dashes below are MINUS signs.
LC Earnings...
2015 -$0.05 / share
2016 -$1.90 / share
2017 -$1.90 / share
2018 -$1.50 / share
2019Q1 -$0.25 / share
2019Q2 -$0.12 / share
Trailing 4 quarters total -$0.77 / share
The IPO provided them with lots of cash, which they have been slowly using, leaving the balance sheet still in pretty good shape.
LC Earnings...
2015 -$0.05 / share
2016 -$1.90 / share
2017 -$1.90 / share
2018 -$1.50 / share
2019Q1 -$0.25 / share
2019Q2 -$0.12 / share
Trailing 4 quarters total -$0.77 / share
The IPO provided them with lots of cash, which they have been slowly using, leaving the balance sheet still in pretty good shape.
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on October 01, 2019, 11:00:00 PM
Post by: TravelingPennies on October 01, 2019, 11:00:00 PM
Title: LC Stock Does 5 for 1 Reverse Split
Post by: TravelingPennies on October 01, 2019, 11:00:00 PM
Post by: TravelingPennies on October 01, 2019, 11:00:00 PM
Today 10/2/2019 was another bad day for the overall stock market and even worse for LC. LC clocked in at another lifetime closing low of $11.91; down another -4.57%. It's is now at $2.382 per share pre-split. The Dow was down -494 or -1.86% so it was pretty bad all around. KRE was down -1.24%. Last May Jim Chanos announced he was short LC but declined to say at that time if he still held the position; he did not like the business model.
Given the dramatic movements of the past couple of weeks I think I'll wait a while to compute LC's multiple (of anything greater than zero). No doubt I'll miss the bottom whenever it occurs
And yes, their IPO provided them a lot of cash. The stock traded as high as $146.45 the week after the IPO in December 2014. If my chart is correct the stock opening IPO price was $123.75 (split adjusted) or $24.75 pre-split.
Given the dramatic movements of the past couple of weeks I think I'll wait a while to compute LC's multiple (of anything greater than zero). No doubt I'll miss the bottom whenever it occurs
And yes, their IPO provided them a lot of cash. The stock traded as high as $146.45 the week after the IPO in December 2014. If my chart is correct the stock opening IPO price was $123.75 (split adjusted) or $24.75 pre-split.