Why Upstart Stock Was Up 17.5% This Week
Upstart Holdings (NASDAQ: UPST) is continuing its resurgence, as its stock price has jumped 17.5% for the week as of Friday morning at 9:30 a.m. ET, according to S&P Global Market Intelligence. Upstart was trading at about $38 per share at the market open on Friday, up a whopping 185% year to date.
The market is up this week, too, as the S 500 has gained 3%, the Dow Jones Industrial Average has climbed 1.6%, and the Nasdaq Composite has jumped 3.9% this week as of Friday at the opening bell.
Upstart Holdings, a fintech that uses artificial intelligence (AI) to process loans, has had quite a volatile past few years. It went public in 2021, and the stock soared some 143%, but then it crashed in 2022 along with other overheated technology stocks, dropping 91%.
Source Fool.com
