Upstart (UPST) Stock Plunges: Should Investors Buy or Sell?
Shares of AI lending platform Upstart (UPST) plunged 20.2% after the company reported weak third-quarter results, missing revenue and EPS estimates. The company cited challenging consumption patterns, lagging incomes, low savings rates, and elevated borrower default trends as factors contributing to the weakness. Upstart expects its business growth to rely on model upgrades and enhanced underwriting accuracy until the macro environment improves. The stock's volatility suggests that this news had a significant impact on market perception.