Why Upstart Plunged 33% in May
Shares of Upstart Holdings (NASDAQ: UPST), an artificial intelligence-based lending platform, plummeted 33% in May, according to data provided by S&P Global Market Intelligence. After a rough first quarter, several analysts downgraded the stock over the past month.
Upstart stock has been volatile over the past few months, Reaching $400 in October before touching down at only $25 last week. Investors were willing to pay a high price for shares of what appeared to be a fast-growing, well-run and profitable company with soaring prospects and a unique, useful business.
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Source Fool.com
