Why Pagaya Stock Jumped 25% in May
Shares of Pagaya Technologies (NASDAQ: PGY) stock gained 25% in May, according to data from S&P Global Market Intelligence. Pagaya operates a credit evaluation platform similar to popular stock Upstart Holdings, but it hasn't gotten nearly the same amount of market adulation. It went public in 2021 through a special purpose acquisition company (SPAC) offering, which was all the rage at the height of the previous bull market but has now earned strong investor pessimism.