Why Upstart Stock Was Tumbling Today
Shares of Upstart (NASDAQ: UPST) were falling today after Morgan Stanley reiterated a sell-equivalent rating and urged investors to sell the stock after its recent rally.
As a result, Upstart shares were down 13% as of 2:10 p.m. ET.
Shares of Upstart, a consumer lender that uses artificial intelligence to determine creditworthiness, are up about 300% over the last three months on a combination of an extended short squeeze, an improving macro environment, excitement around artificial intelligence, and guidance indicating the beginning of a recovery in its first-quarter earnings report.
Source Fool.com
