Why Upstart Holdings Stock Is Down
Portfolio Pulse from Erica Kollmann
Upstart Holdings, Inc. (NASDAQ:UPST) shares are trading lower after the company released its Q2 financial reports and issued weak guidance. The company reported a 40% YoY decrease in revenue and a 44% YoY decrease in total fee revenue. Upstart also issued guidance for Q3, anticipating revenue of approximately $140 million and a net loss of approximately $38 million. The stock is currently trending on Yahoo! Finance and StockTwits, with 36.23% of available shares being sold short.
August 09, 2023 | 3:54 pm
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Upstart Holdings' shares are trading lower following weak Q2 financial reports and guidance. The company anticipates a net loss of $38M in Q3.
The company's weak Q2 financial reports and guidance for Q3 are likely to negatively impact investor sentiment, leading to a decrease in the stock price. The fact that the stock is trending on Yahoo! Finance and StockTwits, with a significant percentage of shares being sold short, further supports this prediction.
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