Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Here's Why Upstart Stock Crashed Today

TheMotleyFool

0 0

Here's Why Upstart Stock Crashed TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/012f8213-0bd1-4831-98f2-6d5fae956d6a.png

Shares of Upstart (NASDAQ: UPST) plunged 56% on Tuesday after the artificial intelligence-powered lending platform slashed its full-year growth forecast.

Upstart's revenue soared 156% year over year to $310 million in the first quarter. The fintech company's banking partners originated 174% more loans on its platform. Those 465,537 loans totaled $4.5 billion.

Upstart's operating income, in turn, surged 123% to $34.8 million. Its net income, meanwhile, more than tripled to $32.7 million, or $0.34 per share.

Source Fool.com

Like: 0

UPST

Share