Why Upstart Stock Is Up 18% This Week
Shares of Upstart (NASDAQ: UPST) popped 18% this week, according to S&P Global Market Intelligence. The artificial intelligence (AI) lending platform announced two new partnerships which could be beneficial for its growth prospects. As of 2:16 p.m. ET on Thursday, the stock is up 18.2% since last Friday's close.
There were no earnings announcements to cause the stock to pop, but Upstart did put out two relevant press releases this week. First, on May 4, Upstart announced that its AI lending will now be on the Salesforce AppExchange. Many financial institutions use Salesforce for their customer relationship management (CRM) software. With Upstart's software now on Salesforce's app marketplace, financial institutions and banks using the AI lending platform will be able to easily work with their customers, hopefully improving the value proposition for using Upstart's products.
Image source: Getty Images.
Source Fool.com
