Why Upstart Stock Was Falling Again Today
On an otherwise good day for financial stocks and the markets generally, shares of Upstart (NASDAQ: UPST), a fintech lending platform based on artificial intelligence (AI), were falling today, and were down around 7.2% as of 3:40 p.m. ET.
There didn't seem to be any company-specific news today; rather, today's move seemed to be a continuation of a larger sell-off that began with an analyst downgrade on Friday.
On Friday, Wedbush analyst David Chiaverini, who already had an underperform rating on Upstart, lowered his price target even further, from $20 to $15. Even after the stock's 16% decline Friday and 7.2% decline today, it still trades at roughly $41.50 per share.
Source Fool.com
