LendingClub Is Rebranding to Happen Bank.
Here’s Why It Could Be a Catalyst for a Higher Stock Price
LendingClub (NYSE: LC) has decided to rebrand; soon, this incumbent fintech leader will change its name to Happen Bank. Investors may be skeptical that a mere name change can turn a stock’s fortunes around. But when a company’s fundamentals steadily improve amid massive undervaluation, well, a name change to reflect a better business model could be just the catalyst for a higher stock price.
Why the rebrand? LendingClub began in 2006 as a peer-to-peer lending platform, enabling retail investors to buy high-yield loans from unsecured personal loan borrowers, underwritten by LendingClub’s tech-enabled risk models. Fast-forward to today, and LendingClub has transformed into an institutionally focused, technology-forward bank.