UPST - Upstart: Buy Sell or Hold?
2023-12-20 07:00:00 ET
After a challenging year in 2022, Upstart (NASDAQ: UPST) is finishing 2023 with a bang. The company had a rough go of it as investor demand for its artificial-intelligence-powered consumer loans waned. However, fresh cash came in to fund its loans this year, taking some pressure off the lender on that front.
After attracting new investors to take on its loans, the stock shot up over 500% from its low point in May, reaching as high as $72 per share. After giving up a large chunk of those gains, the stock has bounced back and is up almost 300% from its 52-week low.
Upstart is an intriguing company on the cutting edge of bringing together artificial intelligence (AI) and lending, looking to increase accessibility to loans for all people. However, the company faces persistent headwinds that could continue to weigh on the stock.
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Upstart: Buy, Sell, or Hold?