Why Upstart Stock Tanked 31% in April
Shares of artificial intelligence-based lending platform Upstart Holdings (NASDAQ: UPST) dropped 31% in April, according to data provided by S&P Global Market Intelligence. The share price continued its descent as the market continued to show negativity toward tech stocks, and investors have been reevaluating the stock's elevated valuation.
Upstart stock has had a wild ride since going public just over a year ago. Investors caught on to its growth potential as it was posting triple-digit year-over-year sales growth, and in one quarter, quadruple-digit growth.
Source Fool.com