Why Upstart Stock Dropped 11% in September
Shares of credit evaluation platform Upstart Holdings (NASDAQ: UPST) fell 11% in September, according to data provided by S&P Global Market Intelligence. There were indicators of further economic instability and dampening market enthusiasm in stocks with exposure to interest rate volatility. And investors were pessimistic with Upstart after a disappointing quarterly report in August.
Upstart stock has been all over the place this year as investors go back and forth about how to price it. They were impressed with Upstart's first-quarter report in April when management told shareholders that it had inked important deals covering $2 billion in loans originated on its platform.
Despite otherwise disappointing results, investors were excited about the opportunity. Upstart stock was up as high as 400% this year.
Source Fool.com
