Why Upstart Holdings Stock Is Up Today
Upstart Holdings (NASDAQ: UPST) has inked a deal to sell up to $4 billion in consumer installment loans to investment firm Castlelake LP. Investors are pleased to see there are buyers for Upstart's loans, sending shares of the fintech company up more than 20% on Monday afternoon. Upstart is attempting to upend the traditional credit scoring system, deploying artificial intelligence to evaluate potential borrowers.