Should You Buy Upstart While It's Below $30?
Upstart (NASDAQ: UPST) has had a rough go of it in recent years, with the stock plunging 93% from its all-time high in late 2021. The fintech's artificial intelligence lending model aims to make loans accessible to more borrowers, but high interest rates and tepid demand have weighed on the business.
Things could be looking up for Upstart, as market participants expect the Federal Reserve to begin lowering its benchmark interest rates, which could spur consumer demand to refinance their loans on Upstart's platform. With that said, is it time to scoop up shares of the fintech while it's still below $30 per share? Let's dive in and find out.
Upstart wants to reinvent consumer credit models as we know them. The company says traditional credit scoring models, like Fair Isaac's FICO scoring system, shut countless worthy consumers out of the lending market.
Source Fool.com
