Yirendai has more than tripled in the last couple of months. It has completed decoupled from the other publicly traded marketplace lenders.
The company IPO’d last December at $10 (ADR) and tanked 70%. Right now, it is trading $33+!
Yirendai is a Chinese consumer online marketplace. CreditEase is its parent private company that operates with an online-offline type of business model in China.
Lending Times analysed the stock thoroughly in May and concluded that it was overvalued at $11.90.
What say you about this company that is into Chinese subprime lending, uses an offline-online business model (Credit Ease has a significant physical presence)?