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Upstart Stock May Look Cheap, but I'm Not Buying

TheMotleyFool

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Upstart Stock May Look Cheap, but I'm Not Buying: https://g.foolcdn.com/editorial/images/727486/person-stocks-10.jpg

The artificial intelligence-assisted lender Upstart (NASDAQ: UPST) was a darling during the tech boom in 2021. The stock price rose from $44 when it went public to close to $400 per share, trading at an astronomical valuation.

However, the rising interest rate environment has been devastating to high-flying tech stocks, and what went up has now mostly come down. With such a meteoric rise, Upstart has been hit hard, and shares have come crashing down to roughly $17 per share.

While Upstart may look cheap, I'm still not buying. Here's why.

Source Fool.com

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