LendingClub Falls Below IPO Price After Six-Month Slide
This article is for subscribers only.
LendingClub Corp. surged in the days after its trading debut six months ago amid expectations that its online model for making and funding loans would usher in a new era of banking. It’s had quite a comedown since.
Shares of the company closed Monday at $14.54 in New York, a 50 percent drop from the December peak. It was the first time they fell below their initial public offering price of $15.