Why Upstart Holdings Stock Soared Over 75% Thursday
Shares of Upstart Holdings (NASDAQ: UPST) rocketed Thursday morning, after the artificial intelligence (AI)-driven lending platform reported its fourth-quarter and full-year 2020 results. After announcing an acquisition that will bring it into the automotive loan segment, Upstart also gave investors more to look forward to ahead.
As of 10:50 a.m. EDT, shares in the company were up 76% on the day.
Upstart reported fourth-quarter revenue grew 39% year over year to $86.7 million. Full-year revenue grew 42% to $233 million, compared to 2019. But it was the forward guidance, along with the move into the auto loan segment, that has investors piling in today.
Source Fool.com
