UPST - Why Upstart and ShotSpotter Bucked the Nasdaq's Downtrend
Wall Street showed no signs of getting calmer on Wednesday morning, with the Nasdaq Composite (NASDAQINDEX: ^IXIC) again taking the brunt of a bearish move that sent the index down more than 1.5% as of 11:15 a.m. EDT. Inflationary pressures are becoming more evident than ever in the economy, and many investors fear that rising prices could force monetary policy changes that would endanger the financial environment that has created so many opportunities for big investment gains.
Yet even on a somewhat gloomy day for the Nasdaq, a few growth-oriented stocks still managed to shine. Upstart Holdings (NASDAQ: UPST) and ShotSpotter (NASDAQ: SSTI) are in very different businesses, but both benefited from financial performances that impressed their respective shareholders. Below, we'll take a closer look at these winners to see if there's more in the tank to fuel future gains.
Shares of Upstart Holdings were higher by 7% on Wednesday morning after having been up 29% at the open. The disruptive credit services and information company reported first-quarter financial results that showed its potential to keep growing well into the future.
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Why Upstart and ShotSpotter Bucked the Nasdaq's Downtrend