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Why Upstart Stock Soared 96% in May

TheMotleyFool

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Why Upstart Stock Soared 96% in MayPhoto, wide shot, wide-angle lens, Consumer electronics manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/0defe5ca-333a-451e-9549-4f262e278fc7.png

Shares of Upstart (NASDAQ: UPST), the AI-based lending platform, soared last month after the company benefited from a better-than-expected earnings report, a deal with Castelake to sell $4 billion in loans, and what appeared to be an extended short squeeze.

According to data from S&P Global Market Intelligence, the stock jumped 96% over the course of the month. The stock's gains came in several stages.