2023-09-01 12:21:56 ET
It was a good week for Upstart Holdings (NASDAQ: UPST) as its stock price rose roughly 8.9% as of Friday at 10 a.m. ET, according to S&P Global Market Intelligence . The stock had been up as much as 9.5% during the week. On Friday morning, it was up about 146.9% year to date.
The broader markets were also up this week, as the S&P 500 gained 2.6%, the Dow Jones Industrial Average rose 1.6%, and the Nasdaq Composite jumped 3.2%, as of Friday at 10 a.m. ET.
The fintech , which uses artificial intelligence (AI) to facilitate loans, soared in the first half of the year, fueled by the surge in technology stocks, and more specifically AI-related stocks. But things have cooled in the past months as Upstart went from over $70 per share on Aug. 1 to its current price hovering around $33. It is still up around 150%, but it lost half its value in the past month.
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Why Upstart Stock Rose 8.9% This Week