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BLND Stock: 9 Things to Know About Blend Labs as Shares Get a Big Boost Today

Blend Labs (NYSE:BLND) stock is on the move Thursday after Joe Lonsdale highlighted his stake in the company.

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Lonsdale, a managing partner at 8VC and co-founder of Palantir Technologies (NYSE:PLTR), said he was the first outside investor in BLND during an interview on CNBC’s Squawk Box. He called it “an amazing high-growth company that has all sorts of things they’re building on the platform.”

Let’s dive into everything potential investors in BLND stock need to know about the company below!

  • Blend Labs is a financial tech company that focuses on simplicity and transparency.
  • It wants to make it easier for customers to gain access to financial services.
  • That includes easily helping customers get loans, as well as streamlining the ability to make a bank account.
  • The company notes that it processed a total of $1.4 trillion in loans during 2020.
  • It also allows customers to process an average loan volume of $5 billion per day.
  • Currently, the fintech company has more than 330 customers using its platform.
  • Nima Ghamsari leads Blend Labs as its co-founder and head of the company.
  • Prior to creating BLND, Ghamsari was one of the first employees of the commercial group at Palantir Technologies.
  • He’s also a graduate of Stanford University with a B.S. in computer science.

BLND stock is seeing a decent amount of trading today following Lonsdale’s mention of the company. As of this writing, more than 1 million shares of the stock have changed hands. That’s quickly approaching the company’s daily average trading volume of around 1.3 million shares.

BLND stock is up 10.5% as of Thursday morning.

Investors on the lookout for more stock market news will want to keep reading!

We’ve got all the most recent stock coverage that traders need to know about for Thursday! That includes Advanced Micro Devices (NASDAQ:AMD) stock price predictions, what has Beyond Meat (NASDAQ:BYND) shares rising, as well as this morning’s biggest pre-market stock movers. You get all of those details from the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed

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