I understand this is not real estate, but would like to show forum viewers how crazy market is.
Many of you know the failures/fraud of Lending Club (LC). Similar to that we have some many lenders, Sofi, prospect,On Deck Capital…etc 25 lending places in USA.
Recently, China based company started one and floated shares at Nasdaq, ticker YRD. This went down from $9 to $3 after IPO and rose up to $35 today, a steep 857% in six months. Morning I bought some qty, now it is $500 up (26% up today).
I understand this is speculative, just tried it, but will run away (sell) soon, may be tomorrow. This is only to show how pure speculative run is going on now
If such things are happening, we may end up getting another rate hike as inflation spikes soon. I do not know whether company is good or bad, they surprised with positive results.
I had similar experience with another stock SGY like the same.
