LendingClub (LC) Drops 16% on Accounting Shift

We recently published 10 Stock Titans With Massive Losses. LendingClub Corp. (NYSE:LC) was one of the worst performers on Thursday. LendingClub extended its losing streak to a third consecutive day on Thursday, slashing 16 percent to finish at $16.44 apiece as investors digested the company’s shift to fair value option accounting, overshadowing announcements of strong earnings performance. According to the company, it would start to transition to fair value accounting, which removes the upfront provision ...