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Why Upstart Was Falling Hard Today

TheMotleyFool

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Why Upstart Was Falling Hard Today: https://g.foolcdn.com/editorial/images/717197/how-in-the-world-shocked.jpg

Shares of fintech platform Upstart (NASDAQ: UPST) were falling today, down 6.1% as of 1:09 p.m. ET.

There wasn't any material company-specific news today. In fact, Upstart introduced a new software tool for auto loan origination today, which, if anything, would normally be a positive.

So why the fall? Well, Upstart tends to be a volatile stock, both to the upside and the downside, depending on the broader market and macroeconomic data, and the markets were down broadly today after a nice run to start the year. It appears as though investors are taking some early-year profits ahead of what could a volatile earnings season and potential recession.

Source Fool.com

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