Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Upstart Stock Plunged on Thursday

TheMotleyFool

0 0

Shares of Upstart (NASDAQ: UPST) stumbled out of the gate on Wednesday and never regained their footing. The stock plunged as much as 23.5% in early trading but eventually ended the day down 18.2%.

The catalyst that sent the AI-based lending platform lower was third-quarter financial results that far exceeded expectations, combined with an impressive increase of its full-year forecast. While it might not make sense on the surface, it's all about context.

Upstart reported revenue of $228 million, up 250% year over year, while total fee revenue clocked in at $210 million, an increase of 235%. This resulted in adjusted earnings per share (EPS) of $0.60.

Source Fool.com

Like: 0

UPST

Share