UPST - Why Upstart Stock Was Making Gains Today
Upstart Holdings ( NASDAQ:UPST )
Upstart Holdings ( NASDAQ:UPST ), an artificial intelligence (AI) loan platform, had a rise in its stock price today despite no news about the business itself. On the other hand, some shareholders may see the recent drop in the Upstart Stock price as a purchasing opportunity.
By 12:10 PM ET, Upstart Stock had gained 3.6%.
What’s the Reason?
Investors’ fears about the Federal Reserve’s aggressive interest rate rises to tame inflation have caused Upstart stock price to plummet 73% during the previous six months.
The stock market has taken a hit from rising interest rates, but Upstart Stock has been hit particularly hard because of the effects of rising rates on consumer spending and lending.
Some investors, however, seem to now view Upstart Holdings ( NASDAQ:UPST ) massive stock decline over the previous six months as a compelling buying opportunity.
What’s Next?
The recent surge in Upstart stock price is intriguing since it coincides with reports that inflation has remained stubbornly high.
The most recent PPI data showed a 0.4% price rise in September, much higher than the 0.2% increase predicted by some experts predicted.
Even though the Federal Reserve has boosted interest ra...
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