What's Going On With Upstart's Stock Today?
Portfolio Pulse from Aaron Bry
Upstart Holdings Inc’s (NASDAQ:UPST) stock traded up by about 3% on Tuesday morning, following a strong Monday where it traded higher by more than 10%. The stock has increased by more than 200% in the last six months. The stock is also trading higher amid overall strength in small-caps. The iShares Russell 2000 ETF (NYSE:IWM), which tracks 2000 of small-cap companies in the United States, was outperforming all major indices Tuesday morning.
July 18, 2023 | 2:49 pm
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The iShares Russell 2000 ETF (IWM), which tracks 2000 of small-cap companies in the United States, was outperforming all major indices Tuesday morning.
The ETF's performance is likely due to the overall strength in small-cap stocks, which it tracks. This suggests that small-cap stocks could be coming back in favor.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Upstart's stock has been on an uptrend, increasing by more than 200% in the last six months. The stock is also benefiting from the overall strength in small-caps.
The stock's upward trend is likely due to the company's use of AI technology in its operations, which has attracted investor interest. The overall strength in small-caps is also contributing to the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100