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Here's Why Upstart Is Soaring Today

TheMotleyFool

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The stock market was having a strong day on Wednesday morning, with all three major averages in the green and the S&P 500 higher by 1% at 10:40 a.m. ET. However, artificial intelligence (AI)-based lending technology company Upstart Holdings (NASDAQ: UPST) was a big outperformer, with shares higher by more than 5%.

There are two likely explanations for today's move. For one thing, Upstart, like most other high-growth technology stocks, has been beaten down recently, and that's the group that is rebounding the most today. So, it's fair to say that much of the move is due to general market strength.

Image source: Getty Images.

Source Fool.com

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