Why Upstart Holdings Stock Dropped Today
The stock of lending platform Upstart Holdings (NASDAQ: UPST) has been on a wild ride since the company gave its first quarterly report as a public company on March 17. Shares almost doubled the day after that report and have continued to move higher. But shares are taking a breather today, having moved down 16% as of 10:55 a.m. EDT.
Two items from the company's quarterly report caught the attention of investors. Upstart reported strong quarterly results, with its fourth-quarter 2020 revenue growing 39% over the prior-year period. But it was guidance for 2021, and an acquisition announcement, that sent shares soaring 90% in a day.
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Source Fool.com
