LendingClub misses on profits by 50 percent, but the CEO says the report was “great” as growth was on track. Wall Street wasn’t buying what was being sold. Fresh off a successful initial public offering when the stock price jumped 56 percent on the first day of trading, LendingClub stock is struggling today, down near 17 percent in morning trade, as its first earnings report disappointed but more importantly its forward guidance scared investors. LendingClub misses earnings due to higher than anticipated costs It wasn’t just that LendingClub reported earnings of $0.01 per share, missing by half its $0.02 earnings…
LendingClub Corp Stock Down, CEO Not Worried
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.