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Why Open Lending Corporation (LPRO) price fluctuated on Tuesday?



Open Lending Corporation (LPRO) shares gained 5.06% in after-hours on Tuesday, July 6, 2021, and closed the trading at $42.98 per share. Earlier in the morning session, LPRO’s stock gained 0.52% to close Tuesday’s session at $40.91. LPRO shares have risen 161.57% over the last 12 months, and they have moved down 3.56% in the past week. Over the past three months, the stock has gained 2.81%, while over the past six months, it has lost 22.34%.

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Let’s see what’s going on recently with LPRO?

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Agreement with American National Affiliates

On June 24, 2021, Open Lending Corporation signed a Producer Agreement with American National Lloyds Insurance Company and ANPAC Louisiana Insurance Company, both affiliates of American National Group, Inc, enabling both companies to be additional providers of credit default insurance policies for Open Lending’s Lenders Protection Program.

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Participation in the recent investor conference

Open Lending Corporation recently participated participating in a fireside chat at William Blair’s 41st Annual Growth Stock Conference which held on Wednesday, June 2, 2021.

Westerra Credit Union selected Open Lending’s protection program

On May 18, 2021, Westerra Credit UnionselectedOpen Lending’s Lenders Protection™ program to increase their auto loan volume and expand their reach within their community.

At this moment, Open Lending’s chief revenue officer, Matt Roe said that he welcome Westerra Credit Union and Open Lending is honoured to partner with Westerra Credit Union to bolster their mission to support the underserved in their community by offering fair and competitive rates.

Recent financial results announcement

On May 11, 2021, Open Lending Corporation announced its financial results for its first quarter of 2021, which ended on March 31, 2021.

Q1 2021 financial highlights

Pricing of Upsized Secondary Offering

On April 01, 2021, Open Lending Corporation announced the pricing of a secondary public offering of 9,000,000 shares of its common stock at a public offering price of $34.00 per share. All shares are being sold by existing stockholders, including Nebula Holdings, LLC., a True Wind Capital, L.P. managed entity, BregalSagemount, and certain executive officers of Open Lending. Open Lending will not receive any of the proceeds of the offering. The offering is expected to close on April 6, 2021, subject to customary closing conditions.

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Well, there is absolutely no reason for LPRO stock price fluctuation on Tuesday. We hope that we will see a stable and positive performance by LPRO stock in the coming days.

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