UPST - Could Investing $10000 In Upstart Stock Make You a Millionaire?
2023-11-23 09:13:00 ET
It's not easy to turn $10,000 into $1 million on the stock market. To do so, you would have to find a stock that compounded at 20% annually and hold it for more than 25 years.
Only a handful of stocks have delivered such returns in modern history, earning the title of a hundred-bagger because they grew to more than one hundred times their original value. To find a hundred-bagger, you need a stock that's small enough to have room to grow to 100 times its value, with the disruptive potential to accomplish that growth in its chosen target market. It needs to have both a large market opportunity and the potential to grow rapidly for a long time.
For a while, Upstart Holdings (NASDAQ: UPST) looked like a stock that checked all these boxes. The consumer lending platform that uses artificial intelligence (AI) technology to determine creditworthiness initially soared after its initial public offering (IPO) in late 2020, briefly gaining more than 20 times its IPO price, but the stock has come crashing down since then as rising interest rates crushed its business.
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Could Investing $10,000 In Upstart Stock Make You a Millionaire?