Upstart Is Falling, but This Long-Struggling Stock Is on the Rise
The stock market has held its own this week, but Friday morning seemed likely to bring a lower open to the trading session. The latest readings on employment showed the economy adding 372,000 jobs in June, which some believe might be a sign that a recession isn't imminent despite steep rises in interest rates. As of 8:45 a.m. ET, futures contracts on the Dow Jones Industrial Average (DJINDICES: ^DJI) had fallen 51 points to 31,316. S&P 500 (SNPINDEX: ^GSPC) futures had given up 19 points to 3,886, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had dropped 112 points to 12,026.
One of the most volatile stocks recently has been Upstart Holdings (NASDAQ: UPST), and the artificial-intelligence-informed credit scoring platform provider saw its shares fall sharply after warning about its coming earnings results. However, another stock that has been struggling for a long time got a much-wanted bounce on news that it's taking aggressive action to unlock value for shareholders. You'll learn more about both stocks below.
Shares of Upstart Holdings fell 18% in premarket trading on Friday. That threatened to send the stock perilously close to its recent lows from two months ago.
Source Fool.com