UPST - Is Upstart Finally Turning Around?
2024-02-21 05:30:00 ET
The tale of Upstart Holdings (NASDAQ: UPST) illustrates why it's so important to have a diversified portfolio of great stocks in different industries. Investors were highly confident in Upstart -- an online lender that uses artificial intelligence (AI) to evaluate borrowers -- when it went public, and rightly so. Sales growth was outstanding, and profits were rising.
But there was always been risk attached to Upstart. It's a new company in an industry that's just getting started, and young companies need to prove themselves over time.
What's happened is that Upstart hasn't been able to keep up its top performance now that interest rates are higher, and investors have been sorely disappointed. But that doesn't mean it's game over. After six consecutive quarters of declining revenue, management is forecasting an increase in 2024. Is the company finally starting to turn itself around?
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Is Upstart Finally Turning Around?