Why Upstart Stock Is Plummeting Today
The stock of Upstart Holdings (NASDAQ: UPST) is sinking today following the company's recent earnings report. The fintech specialist's share price was down 18.2% as of 3:05 p.m. ET on Wednesday. Meanwhile, the S 500 was up 0.7%, and the Nasdaq Composite was up 1.1%.
Upstart released its second-quarter results after the market closed Tuesday and reported sales and earnings for the period that came in significantly ahead of Wall Street's targets. The company also raised its full-year sales outlook, but some cautious commentary from management spurred a big sell-off today.
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Source Fool.com
