LendingClub “Solves” Its Problems: Will Buy Its Own Loans

Investors just aren’t going to learn when it comes to LendingClub. To be clear, this stock matters for two reasons. First, it’s a classic example of a “story” stock gone horribly wrong and as is usually the case, some investors are going to believe the story until they finally just go down with the ship.…

Citi Comes To LendingClub’s Rescue, But You May Want To Fade This Rip

If you want to find examples of people making really ill-advised decisions that not only seem silly in retrospect, but also at the exact moment they’re made, the stock market is a great place to start looking. We got a perfect example last week in shares of LendingClub, the beleaguered marketplace lender that’s suffered through…

Going To Zero? LendingClub Tumbles After Disclosing DoJ Subpoena

Going into this week, some traders assumed things couldn’t get any worse for LendingClub. Shares in the beleaguered marketplace lender tumbled last week following an internal investigation into falsified loans sold to Jefferies and after it was revealed that CEO Renaud Laplanche failed to tell the board about a stake he had in a fund…

More Downside For LendingClub And P2P? Signs Point To Yes

It was just three days ago when I asked the following question: “does the disaster at LendingClub foretell the demise of marketplace lending?” While it’s ultimately too early to know the answer, it’s worth noting what’s happened since then. If you read that post, came away bearish, and acted on your newfound pessimism, you’d have…

Here Come The Big Boys: Wells Fargo Kicks P2P Lenders While They’re Down

Here Come The Big Boys: Wells Fargo Kicks P2P Lenders While They’re Down Earlier today, we said the following about marketplace lenders (the politically correct name for P2P, or online lending):   “Coming full circle, it’s worth noting that even from the start this business was a risky proposition. These online intermediaries are comparatively inexperienced…

Does The Disaster At LendingClub Foretell The Demise Of Marketplace Lending?

Does The Disaster At LendingClub Foretell The Demise Of Marketplace Lending? Monday was one horrendous session for P2P powerhouse LendingClub. Shares fell by more than a third to close at just $4.62 following revelations that CEO Renaud Laplanche - who WSJ reminds us is the “telegenic French entrepreneur who argued that the Internet would upend…