Why Shares of Upstart Continue to Drop Today
Shares of the artificial intelligence lender Upstart Holdings (NASDAQ: UPST) continued their plunge downward after a disappointing earnings report sent shares plummeting more than 56% yesterday.
Today, shares had fallen more than 12% as of 11:46 a.m. ET as more analysts downgraded the stock.
On Tuesday after the market closed, Upstart reported diluted adjusted earnings per share of $0.61 on total revenue of $310 million, both numbers that beat analyst estimates. However, Upstart also lowered its full-year guidance including its revenue forecast, from $1.4 billion to $1.25 billion.
Source Fool.com