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Why Shares of LendingClub Are Getting Crushed Today

·2 min read
Why Shares of LendingClub Are Getting Crushed Today
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Shares of the digital-marketplace bank LendingClub (NYSE: LC) had dropped roughly 26.5% as of 11:41 a.m. ET today after the company reported earnings results for the fourth quarter and full year of 2021. The company, which is largely in the business of using technology to more efficiently originate unsecured personal loans, reported diluted earnings per share of $0.27 on total revenue of more than $262 million, both of which beat analyst estimates. Additionally, total loan-origination guidance of $13 billion in 2022 doesn't imply that much origination growth from LendingClub's rate over the past two quarters.