Here's Why Yirendai Stock Is Crashing Today
Shares of Yirendai (NYSE: YRD) are plunging today, down by 16% as of 12:25 p.m. EDT, after the peer-to-peer lender reported second-quarter earnings.
It's difficult to find much in Yirendai's report that investors wouldn't be thrilled about. The company's loan volume grew 80% year over year, and is up by 18% from the first quarter, continuing an amazing streak of growth. Revenue grew by 61% year over year (16% from last quarter), and both loans and revenue handily surpassed the company's own expectations.
Yirendai is growing impressively, but are its costs rising too rapidly? Image source: Getty Images.
Source: Fool.com