Why Did Upstart Just Hit a Fresh All-Time High Today?
The stock market was having a mildly strong day. As of 1 p.m. EDT, all three major averages were higher by 0.3% or less.
However, high-momentum fintech Upstart (NASDAQ: UPST) was another story altogether. Not only were shares up by more than 10%, but the stock shattered its previous all-time high and traded for as much as $325 per share earlier in the session. Keep in mind that this is a stock that went public just 10 months ago with an IPO price of $20.
Today's move seems to be mainly fueled by momentum in several high-growth stocks, which are generally leading the markets higher. However, there are a couple of notable catalysts to mention.
Source Fool.com
