Upstart Cuts Guidance: Here's Why Investors Shouldn't Panic
It can be unnerving watching a stock fall nearly 20% in a single day, especially after it had already collapsed to $33 a share from an all-time high of $401 in just the last nine months. And yet, as dire as that price drop sounds for investors, they should know that Upstart Holdings (NASDAQ: UPST) still has significant long-term potential as a stock. It just has to find a way to navigate this difficult economic environment.
Management for the AI-driven fintech specialist just announced preliminary results for the second quarter of 2022, and it revealed that revenue will fall short of expectations -- even though those forecasts had already been trimmed a few short months ago.
It's bad news. There's no denying it. But, here's why investors should look at this setback as a buying opportunity for Upstart stock, rather than a signal to sell.
Source Fool.com
