-
Published on Aug 24, 2016
LendingClub (LC) shares were higher Wednesday after Bloomberg Businessweek's Max Chafkin
discussed the company's problematic past and future on Tuesday
afternoon. The company came under fire earlier this year because the
management team had been taking out loans to strengthen the company's
brand in the public eyes. Chafkin said this news cast doubt over the
company's business practices. LendingClub has been working to move past
the controversy by hiring a new CEO and conducting audits to prove to
investors that it is sustainable. Chafkin concluded that the business is
not going to go away anytime soon, but the LendingClub may have grown
too fast.
No comments:
Post a Comment