#RAGETRADE – Sold LC
Sneaky Falcon Enterprises, LLC has sold 75 shares of Lending Club (Ticker NYSE:LC).
For the original recommendation presentation, see: Lending Club Investment Recommendation
Well, that was quick… And not in the getting rich quick kind of way. Sometimes it’s best to cut your losses short.
The 75 shares were sold at a price of $10.99, after the stock dropped below our set stop loss price. The sale resulted in $824 in cash (after commission).
Overall, our position in Lending Club lead to a $229 loss, which is a -22% return. For more info on the purchase, see here.
While the fundamentals remained strong in our opinion, a flurry of negative sentiment sent the price tumbling. We opted to get off the sinking ship with most of our money intact. We’ll see if we foolishly bought high only to sell low, or did an effective job of risk management.
To see our other past and present holdings, check out our full portfolio.