Why This Hypergrowth Stock Is Still a Long-Term Buy
It has been a strong year for the stock market, with the broad S&P 500 index rising nearly 25% year to date. But that return is trounced by artificial intelligence-driven loan originator Upstart Holdings (NASDAQ: UPST), which has delivered its stockholders a whopping 479% gain since Jan. 1.
Upstart's financial performance has gone from strength to strength, but investors were dissatisfied with its third-quarter earnings results last week, sending the stock price down over 20% immediately following the release. The primary concern was not the absence of growth, but that Upstart didn't grow fast enough compared to previous quarters.
But that interpretation of the results might be too simplified. So, here's why the stock should still be a big long-term winner.
Source Fool.com
