If You Have an Appetite for Risk, It Is Time to Feast on This Stock
It's been a roller-coast ride for stockholders of Upstart Holdings (NASDAQ: UPST) lately. Shares of the AI-based lending platform saw about half their value wiped out in a matter of days as investors panned its earnings report for the second quarter of 2023. Before this decline, the stock had risen approximately sixfold as it appeared on track for a recovery.
Despite this negative news, the investment case may not be as impaired as the stock's recent performance might imply. Here's why investors should stick with this stock or add it to their portfolios.
The company's financials speak to the depressed state of today's lending market. Its $136 million in Q2 revenue fell by 40% from the same quarter last year. And despite significant cuts in operating expenses, the $28 million loss for Q2 was only a slight improvement from the $30 million loss in the year-ago quarter.
Source Fool.com
