Shares of fintech company Upstart (NASDAQ: UPST) were rallying today, up 6.9% as of 2:53 p.m. EST.
The technology and fintech sectors were up strongly today perhaps as a reflection of increased optimism that inflation may be abating without too many job losses across the economy.
However, the tech and fintech sectors are also where we are seeing many companies laying off employees in significant numbers, and a report today out of Columbus, Ohio revealed Upstart is also partaking in the sectorwide cost-cutting efforts.
Source Fool.com