Upstart Stock Sell-Off: 2 Reasons You'll Want to Buy the Dip

Inflation is at a 40-year high, and it's placing significant upward pressure on interest rates, hitting the hip pocket of consumers and driving down demand for loans. That's bad news for fintech company Upstart Holdings (NASDAQ: UPST), which released its preliminary financial results for the second quarter of 2022 on Aug. 9.

The day after Upstart's release, its stock price fell by more than 11% as investors digested news of slowing revenue growth and a murky short-term outlook. The company's bank and credit union partners have been hesitant in taking on risk from unsecured loans amid deteriorating credit conditions.

But there's still a highly attractive story unfolding, which makes the steep decline worth buying for the long run. Here are two reasons why.

Source Fool.com