Why LendingClub Corporation Stock Plunged on Thursday

Shares of LendingClub Corporation (NYSE: LC) are down about 15% as of 11:45 a.m. EST Thursday as investors bailed on the company's stock during its investor day presentation. Yet another negative revision to its 2017 guidance may be the reason why investors are turning cold on shares of the online loan originator.

After reducing its guidance on its third-quarter conference call, LendingClub reduced its fourth-quarter 2017 guidance again, detailing the changes in Thursday's presentation. The online loan originator now expects net revenue, GAAP net income, and adjusted EBITDA to come in roughly $3 million lower than where it guided in November.

The table below summarizes its changing expectations for the full year 2017.

Source: Fool.com