These 2 Nasdaq Stocks Are Falling More than 35% Tuesday Morning
Stock market investors haven't gotten much relief lately, although Tuesday morning appeared likely to provide at least a pause in the sharp downturn Wall Street has endured lately. As of 8 a.m. ET, futures contracts on the Nasdaq Composite (NASDAQINDEX: ^IXIC) finally managed to produce a modest bounce, rising 1.2% to 12,338.
What's notable about that gain is that it comes in the face of big premarket declines for some high-profile Nasdaq stocks. Both Upstart Holdings (NASDAQ: UPST) and GoodRx Holdings (NASDAQ: GDRX) saw their shares drop dramatically before the start of the regular trading session on Tuesday, as their latest financial reports weren't able to restore investor confidence in what lies ahead. Read on to learn more about what Upstart and GoodRx said and why shareholders are responding so negatively to the news.
Shares of Upstart Holdings lost more than 50% of their value in premarket trading Tuesday morning. The artificial intelligence (AI)-based lending platform provider reported first-quarter results that showed continued success in its business, but it also warned that rising interest rates could have an impact on its future growth.
Source Fool.com
