We're still close to the start of 2024, but even with a new year, some things haven't changed. Upstart (NASDAQ: UPST) once again revealed disappointing financial results for the three-month period that ended Dec. 31. Shares are down 18% since the announcement on Feb. 13 (as of Feb. 15).
The artificial intelligence (AI)-powered lending platform continues to struggle amid a higher-rate environment. Management's guidance didn't give the market much confidence as we look ahead.
Although this fintech stock is currently trading 93% below its all-time high, which was set in October 2021, I think it's a smart idea for investors to pass on Upstart right now.
Source Fool.com