12-7-17 11:32 AM EST | Email Article

LendingClub Corp (NYSE: LC) fell as much as 22.4 percent Thursday as management presented weak guidance at investor day.

Following a third-quarter sales miss, the firm now anticipates a 2017 GAAP loss per share between 16 cents and 17 cents against the Street’s expected 2-cent gain.

“Q4 volumes are in-line with our expectations but we now expect a ($3 million) timing impact to both our revenue and EBITDA from holding the residual from our recent securitization,” the firm said in its slideshow.

Lending Club forecasts 2018 revenue between $680 million and $705 million against a consensus estimate of $711.63 million.

The stock might also have corrected off recognition of potentially false hype. Shares had peaked last week on rumors of an investor day announcement regarding blockchain and cryptocurrency strategy, but the morning’s published presentation made no mention of such plans.

The ongoing conference can be viewed here.

At the time of publication, shares were trading down 14.7 percent at a rate of $3.62.

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