Upstart Holdings, Inc. (UPST) closed at $20.79 in the latest trading session, marking a -1% move from the prior day.
Fintech company Upstart Holdings (NASDAQ: UPST) has been one of Wall Street's most volatile stocks; in just under two years since going public, the stock's gone from $20 to $400 back down again -- a stressful ride indeed! The company is still young and has to prove to investors that it has the staying power to not only survive but thrive over the coming years. There is still a lot of work to be done on that front, but Upstart has seemingly found a niche that could help it to grow and establish itself enough to win back investors.
Cathie Wood's Ark Innovation ETF, known for its investments in tech growth stocks, is down by about 70% from its all-time high, and many tech names the market once flocked to have lost more than 90% of their value. Admittedly, stocks that have fallen that far carry some risk, so they aren't suited for more conservative investors. Upstart utilizes artificial intelligence and machine learning to analyze prospective borrowers for default risk.