Why Upstart Roared Higher Today
Shares of fintech company Upstart Holdings (NASDAQ: UPST) surged Wednesday, climbing 8.64% in today's trading.
While there wasn't any company-specific news driving the upturn, Upstart is a highly volatile growth stock, both to the upside and the downside. Moreover, since it is in the lending business -- even though its business model entails selling its loans to third parties -- the company remains highly sensitive to overall macroeconomic conditions.
On that front, some headwinds seen over the past month and year to date eased on Wednesday, sending the stock higher.
Source Fool.com
