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Shares of Lending Club surged 56% from their initial public offering price Thursday—a strong debut for the first publicly traded peer-to-peer lending company, the WSJ reports. That first-day pop left Lending Club at a valuation more in line with high-tech firms than the banks and other financial companies it is seeking to displace. On Wednesday, Lending Club sold 58 million shares for $15 apiece, above the $12 to $14 a share range that was outlined in a filing with regulators. Thursday morning, shares opened at $24.75. The stock quickly rose to a high of $25.44 and later closed at $23.43.

via The Daily Startup: Lending Club Shares Surge in Market Debut – Venture Capital Dispatch – WSJ.

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