Why Upstart Stock Popped Wednesday Morning
Shares of Upstart Holdings (NASDAQ: UPST) rallied on Wednesday, climbing as much as 8.5%. As of 1:55 p.m. ET, the stock was still up 7.2%.
The major market indexes were trading slightly higher and while this trend no doubt helped push the fintech stock higher, it was most likely the prospect of an upcoming rate hike that provided additional tailwinds.
There didn't seem to be any company-specific news driving the gains, but macro developments are the likely culprit.
Source Fool.com
