With that in mind, investors should consider adding Upstart Holdings (NASDAQ: UPST) and Riskified (NYSE: RSKD) to their portfolios. Banks rely heavily on FICO scores when making lending decisions, but those three-digit credit scores are based on a relatively limited number of variables. Its lending platform uses artificial intelligence (AI) to measure more than 1,500 data points per borrower -- about 100-fold more than traditional credit models -- to help lenders quantify risk more precisely.
Upstart Holdings (NASDAQ: UPST) and Block (NYSE: SQ) are fintech stocks that investors loved in 2021 and have been down more than 70% over the past year. In fact, Upstart is down 91%, meaning that if you invested $100 in the stock a year ago, you'd have less than $10 left today. Upstart is an artificial intelligence (AI) lending platform that helps financial institutions price loans for consumers.
Despite the market facing extreme volatility in 2022, I still like adding to these three growth stocks at today's prices.