It's a New Era for Upstart. Why the AI Stock Is a Screaming Buy.
Shares of Upstart (NASDAQ: UPST) soared last week after the company smashed estimates in its fourth-quarter earnings report, and executed across the board.The company's new artificial intelligence (AI) models and partnerships have driven a surge in loan origination volume on the Upstart platform, which uses the technology to determine borrowers' creditworthiness. Loan volume surged even as interest rates remained elevated, and it delivered growth in all key product categories, including emerging ones like home equity lines of credit (HELOCs).Upstart stock jumped more than 30% on Feb. 12 even as the broad market pulled back on a higher-than-expected inflation reading for January, news that would have typically pushed Upstart stock down as well.Continue reading
Shares of Upstart (NASDAQ: UPST) soared last week after the company smashed estimates in its fourth-quarter earnings report, and executed across the board.
The company's new artificial intelligence (AI) models and partnerships have driven a surge in loan origination volume on the Upstart platform, which uses the technology to determine borrowers' creditworthiness. Loan volume surged even as interest rates remained elevated, and it delivered growth in all key product categories, including emerging ones like home equity lines of credit (HELOCs).
Upstart stock jumped more than 30% on Feb. 12 even as the broad market pulled back on a higher-than-expected inflation reading for January, news that would have typically pushed Upstart stock down as well.
