It's been a tough past couple of years for Upstart (NASDAQ: UPST) shareholders. The stock soared in 2021 after its public offering when investors were intrigued by the potential of a new kind of credit-scoring platform. Since peaking in October 2021, however, share prices fell by more than 90%. The market clearly changed its mind in a big way.

The thing is, Upstart isn't just another company that never had any real shot at living up to the hype. Its product is real. So is its potential.

Rather, this stock's enormous rise and fall is largely attributable to circumstances and timing. Upstart went public in the middle of the COVID-19 pandemic when investors were hungry for new opportunities. It then had to prove itself in an economy that was anything but favorable. The swing from bullishness to bearishness could have easily been even more extreme.

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Source Fool.com