Advertisement
Singapore markets close in 4 hours 31 minutes
  • Straits Times Index

    3,144.47
    +2.62 (+0.08%)
     
  • Nikkei

    39,895.50
    +729.31 (+1.86%)
     
  • Hang Seng

    16,636.06
    +124.62 (+0.75%)
     
  • FTSE 100

    7,630.02
    +5.04 (+0.07%)
     
  • Bitcoin USD

    61,393.73
    -376.76 (-0.61%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,096.27
    +26.51 (+0.52%)
     
  • Dow

    38,996.39
    +47.37 (+0.12%)
     
  • Nasdaq

    16,091.92
    +144.18 (+0.90%)
     
  • Gold

    2,054.70
    0.00 (0.00%)
     
  • Crude Oil

    78.49
    +0.23 (+0.29%)
     
  • 10-Yr Bond

    4.2520
    -0.0220 (-0.51%)
     
  • FTSE Bursa Malaysia

    1,540.71
    -10.73 (-0.69%)
     
  • Jakarta Composite Index

    7,279.16
    -36.95 (-0.51%)
     
  • PSE Index

    7,003.08
    +58.37 (+0.84%)
     

Will Upstart's Stock Hit $45 in 2023?

Will Upstart's Stock Hit $45 in 2023?

The artificial intelligence-assisted lending platform Upstart (NASDAQ: UPST) has gone from trading at all-time highs in 2021, when shares hit nearly $400, to all-time lows, with shares trading below $18. High inflation, followed by rapidly rising interest rates, has disrupted a key part of Upstart's business model, making formerly enthusiastic investors reverse course. What went wrong for Upstart?