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. 

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Source Fool.com