Why Upstart Stock Fell 28% Last Month
Shares of Upstart Holdings (NASDAQ: UPST) fell 28% in January, according to data provided by S&P Global Market Intelligence. This was far worse than the 5% decline from the S&P 500. In short, stocks with high valuations like Upstart are getting a haircut and investors are lowering their near-term expectations.
Upstart partners with banks and credit unions in an attempt to bring artificial intelligence (AI) to the lending process. If successful, the company hopes it can lower costs for consumers while simultaneously increasing profits for lenders due to a decrease in defaults.
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Source Fool.com
