Why Are These Five Stocks In Spotlight on Monday?

LendingClub Surges on Technical Buying

LendingClub Corp (NYSE:LC)‘s relief rally has officially come as shares of the beleaguered peer-to-peer lender is up 8.5% in morning trading after the stock fell sharply over the previous few sessions due to its CEO resigning. The bears have attacked LendingClub Corp (NYSE:LC) over the past quarter because the company has underperformed in terms of quarterly results and investors have questioned the sustainability of LendingClub’s capital sources in times of economic volatility. Nevertheless, Lending Club does have a lot of potential and the stock is trading much closer to book value than before. Overall, 18 elite funds owned shares of LendingClub at the end of the fourth quarter of 2015.

Nano-Cap Rockets On Speculative Buying

MGT Capital Investments Inc. (NYSEMKT:MGT) has done a major pivot and speculative traders have sent the stock 19% in the green so far today. It was recently announced that eccentric software security pioneer John McAfee will be the new CEO of MGT Capital, which previously was an investor mobile games and fantasy sports. MGT Capital will change its name to John McAfee Global Technologies and will focus more on the security market. MGT has acquired some assets from McAfee’s D-Vasive to facilitate the transition. Two funds that we track amassed $66,000 of MGT Capital Investments Inc. (NYSEMKT:MGT) at the end of 2015. As with all nano-caps, investors should do their due diligence before making an investment decision.

Globalstar Surges 

Globalstar, Inc. (NYSEMKT:GSAT)’s stock is trading 17% higher after the FCC chairman’s office notified the company that it is recommending the approval of Globalstar’s spectrum for Wi-Fi use. The full FCC commission still needs to approve the decision however. Of the 786 elite funds we track, 13 funds owned $149.07 million of Globalstar, Inc. (NYSEMKT:GSAT), which accounted for 10.00% of the float at the beginning of 2016.

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