This Left-for-Dead Fintech Is Up 73% This Month, and It May Just Be Getting Started

Billy Duberstein, The Motley Fool
·4-min read
This Left-for-Dead Fintech Is Up 73% This Month, and It May Just Be Getting Started

One would be hard-pressed to find a more hated stock on Wall Street than LendingClub (NYSE: LC). Conceived as a two-sided marketplace for personal loans, the company has been disdained by investors ever since a May 2016 scandal in which management was caught fudging investor requirements to move more loans, and its portfolio of personal loans began to show more credit losses. LendingClub tightened credit, grew and diversified its loan investor base, and cut costs, making the company more resilient to a potential downturn.