Why Upstart, Affirm, and MoneyLion Are Rising Today
Several fintech stocks jumped today, finally getting some relief after facing an intense sell-off all week. Others are rising from earnings results.
Shares of the artificial intelligence lender Upstart Holdings (NASDAQ: UPST) and the buy now, pay later company Affirm Holdings (NASDAQ: AFRM) traded nearly 16% higher as of 1:18 p.m. ET. Digital financial services company MoneyLion (NYSE: ML) had shot up more than 31%.
MoneyLion this morning reported a small profit in the first quarter of 2022 on total revenue of close to $70 million, both numbers that soundly beat analyst estimates. Furthermore, the company added another 600,000 customers in the quarter and now has a total of 3.9 million. MoneyLion also continued to grow originations, which are now up to $408 million in total.
Source Fool.com
