Why Upstart Holdings Stock Was Down 4.4% on Tuesday
Upstart Holdings (NASDAQ: UPST) was bouncing up and down on Tuesday, jumping 8.5% higher shortly after the opening bell but then falling throughout the course of the day, finishing the day down 4.4% to $22.17 per share.
The major indexes were down slightly as the Dow Jones Industrial Average was down 80 points (-0.2%), the S&P 500 was down 16 points (-0.4%), and the Nasdaq was down 97 points (-0.9%).
Upstart Holdings, a fintech that uses artificial intelligence to handle loan requests, was up early, likely on a strong earnings report from fellow banking fintech SoFi Technologies. SoFi posted record quarterly revenue in the third quarter with a net loss of just $0.09 per share, both of which beat estimates.
Source Fool.com
