Shareholders in Upstart Holdings (NASDAQ: UPST) are having a fabulous year, with the stock up a jaw-dropping 170% in 2023. The general optimism surrounding the market, and tech stocks in particular, has helped propel this artificial intelligence (AI) lending platform. 

By zooming out, we'll see that it hasn't always been so rosy. If you were bold enough to invest $1,000 in Upstart during its initial public offering in December 2020, you would be sitting on a gain of 20%, despite its huge run-up this year. So, that $1,000 would be worth $1,200 today. During this same period of time, the Nasdaq Composite Index has climbed 9%. 

But Upstart's stock remains about 90% off its all-time high. Let's take a closer look at what's been going on with this fintech. 

Continue reading

Source Fool.com