goeasy stock price plummets 60%, company suspends dividends and announces loan losses

LootboxPhobia · 2026-03-10T22:16:22+00:00

Canadian subprime lender goeasy Ltd. saw its stock plummet 60% to an all-time low after suspending dividends and withdrawing financial guidance. The company expects to record approximately CAD 331 million in loan losses in the fourth quarter, mainly related to its vehicle financing business.

LootboxPhobia

2026-03-10 22:16:22

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Investing.com - Canadian subprime lender goeasy Ltd. (TSX: GSY) saw its stock price plummet on Tuesday after the company announced a suspension of dividend payments, withdrew its financial outlook, and disclosed loan losses related to its vehicle financing business.

The Ontario-based lender is expected to record approximately CAD 331 million ($244 million) in net write-offs in the fourth quarter. The company stated it will write off CAD 233 million, related to losses in its LendCare Holdings division, which provides consumer loans, interest, and fees primarily for auto and recreational vehicle financing.

The stock dropped as much as 60% in Toronto trading to CAD 46.26, hitting its lowest level since 1993. goeasy bonds were among the worst performers in the U.S. high-yield bond market on Tuesday. According to Trace data, as of 11:21 a.m. New York time, its 2030 maturity bonds with a 6.875% coupon rate fell 5.29 cents to 80.75 cents, hitting a record low.

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