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Why LendingClub Stock Was Sliding Today

Jeremy Bowman, The Motley Fool
·2-min read
Why LendingClub Stock Was Sliding Today

Shares of LendingClub (NYSE: LC) were falling today after the peer-to-peer lending platform posted disappointing guidance in its second-quarter earnings report, even as its results topped headline estimates. LendingClub, which leverages a digital interface and AI technology to offer personal loans and banking services, continued to see sharp declines in its business in the second quarter. LendingClub also saw its balance sheet shrink, in line with its strategy of allowing brokered deposits to mature.

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