This Hot Growth Stock Is Still a Buy After Posting Enormous Gains

The stock market can be very volatile. Want some proof? Look no further than artificial intelligence lending platform Upstart Holdings (NASDAQ: UPST). The stock is down about 60% over the past six months, even after gaining over 30% just the last week.

I wouldn't blame anyone for taking profits on any investment that moves 30% higher in a week, but it might pay even better to think like a long-term investor. After the company's barn burner of a fourth quarter, Upstart seems poised to outperform over the quarters to come. Here's why this red-hot stock is still a smart buy today.

Roughly a year ago, Upstart announced its acquisition of automotive retail software company Prodigy. Upstart took Prodigy's software and married it to its in-house lending software to create an integrated product for dealerships to configure, sell, and finance automotive transactions all in one place. Upstart launched the software under the name Upstart Auto.

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Source Fool.com