Is Upstart Sending a Mixed Message With Stock Buybacks?
Capital allocation -- what a company spends its money on -- is one of the most critical jobs a CEO has. In his book The Outsiders, William Thorndike makes a strong case that it may be the single biggest factor in determining long-term shareholder returns. It is also often overlooked.
Shareholders of Upstart (NASDAQ: UPST) are paying closer attention these days. Many are scratching their heads as they process two seemingly contradictory pieces of information. While the CEO and other executives have been unloading shares, the company could be about to start buying them. It's confusing on the surface. But does it make more sense when each action is examined by itself?
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