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Hoping for a quick gain on Lending Club trades?

Found this today. Someone using Lending Club’s new Note Trading Platform seems to speculate that a bulk buyer of notes might overlook the added zero in the value?

Retrieved Nov. 3rd, 2008 – some columns have been removed to allow better overview.

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This entry was posted on Monday, November 3rd, 2008 by wiseclerk at 9:36 am and is filed under Lendingclub. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Hoping for a quick gain on Lending Club trades?”

  1. Rob Says:
    November 5th, 2008 at 1:49 pm

    Thanks, Claus, for pointing this out.

    We noticed this as well. I’m guessing this was just a typing mistake. The benefits of a free marketplace is that sellers and buyers must agree to a price based on supply and demand. Selling orders are up for up to 4 weeks, so if nobody purchases it (and I doubt anybody will), it’ll come down automatically.

    Cheers
    Rob G from Lending Club

  2. admin Says:
    November 5th, 2008 at 1:57 pm

    Rob,

    don’t think it is a typo. It is a fair use of the marketplace. However, should someone buy this not, that would obviously on accident and shout it happen I pity the buyer.