Previous close | 2.4700 |
Open | 2.8800 |
Bid | 2.1300 |
Ask | 2.9900 |
Strike | 350.00 |
Expiry date | 2024-01-19 |
Day's range | 2.4700 - 2.8800 |
Contract range | N/A |
Volume | |
Open interest | 411 |
Being a "'platform" sounds well and good, but it's hard for fintechs involved in lending to escape the economics of banks.
Upstart Holdings (NASDAQ: UPST) is an explosive financial technology company that uses artificial intelligence (AI) to originate loans for banks. After reaching an all-time high of $401 per share in 2021, Upstart stock has progressively fallen, at one point by as much as 93% since. Investors took particular issue with the company's recent Q1 2022 earnings report, sending the stock down more than 50% on the day results were released.
Upstart earlier this year launched a $400 million share repurchase program but didn't buy back any stock in the first quarter of 2022.