Upstart's (NASDAQ: UPST) stock skyrocketed during the buying frenzy in growth stocks throughout 2021. The online lending marketplace went public at $20 on Dec. 16, 2020, and its shares hit an all-time high of $390 on Oct. 15, 2021. At the time, the bulls were dazzled by Upstart's explosive growth rates and disruptive approach to approving loans.

Instead of reviewing only a customer's FICO score, credit history, and annual income, Upstart's AI algorithms scour non-traditional data points -- including a person's education, GPA, standardized test scores, and work history -- to help its lending partners approve loans for a wider range of younger and lower-income customers with limited credit histories.

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Source Fool.com