Here's Why Upstart Holdings Stock Was Up 271% Last Year
Shares of Upstart Holdings (NASDAQ: UPST) were up an eye-popping 271.3% in 2021, according to data from S&P Global Market Intelligence. This performance handily demolished the 27% rise of the otherwise stellar S&P 500. The stock peaked in October and was up almost 800% for the year at that point. But then it cratered by roughly 70%. So while shareholders may have tripled their money in 2021, they're now down significantly from the stock's all-time highs. Hello, volatility.
Upstart provides artificial-intelligence (AI) software to banks and credit unions to help get more people approved for loans, at better rates to the consumer, and with lower risk of default for lenders. And the company is seeing a stunning rate of adoption that's leading to outsize financial results.
Image source: Getty Images.
Source Fool.com
