I personally think we need to be careful on this forum to keep several items separate. LendingClub the stock investment, LendingClub the platform,and LendingClub notes. A lot of the newer people have trouble understanding how they are different and yet related. I agree with you about the LendingClub stock. But dead man walking may be a bit much, I think they probably could be profitable if they just stopped spending as much. Didn't they say in an email couple years ago they could function just based off of the servicing income if they gutted the place? At any rate, I think LC is similar to a mortgage broker - and that's not necessarily a very attractive business to invest in.
I'm your huckleberry...

I'll answer this from a couple of perspectives. First as a (former) notes investor. Taxable account is gone, all that's left are 50% late notes waiting for their turn to die, and 50% notes that still haven't/won't sell. These are the "dead men walking", I just have to wait them out. Not fun, but hey- we'll see what happens. IRA has a lot more to go but the discount to continue selling has risen from .5% discount to 1.5% and will slowly continue to rise until the IRA gets to the same point as the taxable account. Maybe it comes back- maybe it doesn't. I will certainly watch and if it does, I "might" reinvest- but not at the level I did before.
Fundrise has better returns with a lot less effort and risk. Yes the money is stuck for 5 years, but at 10% a year, oh noes...

Now I'll answer as the stock investor- when we lost 15% percent on the earnings call a few weeks back, I said "Damn", and invested more to lower my cost. When we lost another 15% yesterday I said "Sh.." and invested again. Some will say why, that's stupid, etc. My net cost on my shares is $4.37 a share, not counting today's purchasing, and possibly Monday's purchasing. If I can get it closer to $4 a share I'll be happy.
I have done very well in the past with distressed stocks and price swings. One stock in particular- Had close to 100,000 shares of it in the .25 a share range. Managed to catch a $1 swing on it 2x, once on acquisition rumors with a tight trailing sell trigger attached to it, the other time when the company was actually bought. Paid for a lot of things with those swings.
If/When LC gets back to the $6.80 peak it was at before, I'll make about $30K. Anything less than that, but more than it is now, I'll keep a close eye on, set a trailing trigger, and patiently wait. Just like I'm doing while my notes sell.