Why Upstart Stock Soared 92% in July
Shares of Upstart (NASDAQ: UPST) were soaring last month after the artificial intelligence (AI)-driven consumer lending company continued to benefit from excitement over artificial intelligence, signs of an economic recovery, and an ongoing short squeeze.
While there was no major news out on the stock during July, that momentum was enough to send Upstart shares soaring 92%, according to S&P Global Market Intelligence. The stock has been highly volatile over its history and is seen as a leveraged bet on the health of the overall economy and the strength of the credit market.
As you can see from the chart below, the stock marched steadily higher over most of the quarter.
Source Fool.com
