While moments ago troubled peer-2-peer lender Lending Club announced that it missed consensus EPS expectations of -0.02, reporting a steeper than expected decline of -$0.09 on an operating loss of $81 million compared to $4.1 million a year ago, the reason why the stock is tumbling after hours is that just months after its CEO departed the company in a scandal that has thretened to potentially engulf such prominent board members as John Mack, the company just announced that its CFO, Carrie Dolan, is also stepping down in what the market sees as a clear warning sign that the company’s troubles are nowhere near done despite it having successfully concluded a debt securitization in the past week, which to some suggested that LC has finally managed to move on beyond its troubles.
From the statement:
This post was published at Zero Hedge on Aug 8, 2016.
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