OnDeck Capital shares fell as much as 24% on Thursday after the online lender clocked-up record levels of loans under management and origination volumes for Q4 2016 but also saw losses widen to $29m for the quarter.
OnDeck Capital Inc (ONDK.N) shares fell as much as 24 percent on Thursday after the online lender posted its fifth straight quarterly loss and set aside more money for future losses after determining its calculations were askew. Like its digital lending peers, OnDeck has been struggling with investor' concerns over the quality of its underwriting and ability to maintain a rapid pace of growth. Chief Executive Officer Noah Breslow said the company had changed the way it sets aside buffers for future losses after finding it was losing more than internal models predicted.
http://www.reuters.com/article/us-on-deck-cap-results-idUSKBN15V1GR
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