UPST - Upstart Stock Soared 260% in 2023: Will 2024 Deliver the Same?
2023-12-21 06:00:00 ET
Growth stocks are back in a big way this year. After brutal drawdowns in 2021 and 2022, many unprofitable pandemic-era favorites have started to rise again in 2023.
Upstart Holdings (NASDAQ: UPST) may define this group. Shares have rocketed almost 260% higher this year but are still down 88% from their all-time highs, showing how brutal the drawdowns have been for growth stocks in recent years. It certainly hasn't been a boring ride for Upstart shareholders since it went public in late 2020.
The artificial intelligence ( AI ) lending platform crushed the market in 2023. Should investors expect more of the same in 2024?
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Upstart Stock Soared 260% in 2023: Will 2024 Deliver the Same?