LendingClub: Founding CEO Resignation Isn't The End Of The World
The resignation of the founding CEO of LendingClub sent shock waves over the sector.
The P2P online lending platform reported huge Q1 growth, but the lack of Q2 guidance questions the impact of the CEO shakeup.
The enterprise value is too attractive to pass up unless the new CEO ushers in a new business plan.
The fintech sector took another big hit today with the resignation of the founding CEO at LendingClub (NYSE:LC). Along with the collapse of OnDeck Capital (NYSE:ONDK), the two primary public fintech stocks are sitting at new lows below $5 each.