Since going public, share price is down ~85% ... What is it like working there right now, is the sentiment that the company is heading towards going out of business or going to turn things around?
Who trusts Lending Club? They backdated loans and duped investors, took out loans in their family members names to fake growth. There is no coming back from that in financial services. Watch their cash on hand.
I didn't hear about that. When did this happen?
May 2016. You should definitely go back and read for yourself
Long term value 0. They violated investors trust and do not uphold their fiduciary duty. How can you survive in financial services when no one trusts you?
I’m no longer there and am not a fan of the company but what you’re saying is absolute BS. The company has absolutely rebuilt trust with investors. On the scale of finance company problems this is way smaller than some of the big ones like Wells, so cool your heels chicken little.
Proof? I’m not gonna take some ex-employees word over what LC has shown with their actions. Did you really compare lending club to the 3rd largest bank in the United States? You wish LC is big enough to have the problems that Wells Fargo is having. Anyways, if things are so good at LC why did you leave?
Sinking ship. Every week an executive is leaving and already hearing layoffs in Q2 call.
You hear what you want to hear. But reality is different
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Following, I like their model, if they are successful they can wipeout the conventional lending model
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