Peer-to-peer lending industry has been disrupting the market for nearly 15 years now, making waves since 2005, while later on reporting 3.5 billion in capitalization of the entire P2P lending sector.
Since market trends have been pushing the lending sector up in revenue and prices for more than past several years, peer-to-peer lending companies are emerging as multi-million dollars capitalizers, while some companies from the industry have even gone public back in 2018.
Weidai, a peer-to-peer lending firm, is one of such companies, going public back in November of 2018 with estimates that saw the company’s IPO collecting 699 million dollars.
Although Weidai didn’t live up to expectations in terms of reaching the valuation for their IPO, the company went public in 2018, joining the IPO boom, while it appears that WEI shares are doing even better in 2019.
How is Weidai (WEI) Performing in 2019 After Going Public in 2018?
It’s been only two quarters since Weidai officially became publicly traded company back in November 2018.
The company was valued at 699 million dollars for their IPO, but ended up collecting 45 million dollars for their initial public offer, while Weidai started their first trade at the price of 10$ per share.
The company is dealing with Chinese borrowers who can leverage their cars in form of collateral in order to get connected by Weidai with peer lenders as well as institutional lenders who are a part of Weidai ecosystem.
The company is collecting profits through commission, while it appears that the market has gone more favorable in terms of investing in WEI shares at the beginning of Q2 2019.
As April 2019 begins, Weidai shares are climbing by 1.79%, while WEI is looking to break the resistance of 11.56$ and reach the price of 12$, marking 10% of rise since November 2018.