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Why Upstart Stock Was Falling Again Today

Billy Duberstein, The Motley Fool
·3 min read
Why Upstart Stock Was Falling Again Today

On an otherwise good day for financial stocks and the markets generally, shares of Upstart (NASDAQ: UPST), a fintech lending platform based on artificial intelligence (AI), were falling today, and were down around 7.2% as of 3:40 p.m. ET. On Friday, Wedbush analyst David Chiaverini, who already had an underperform rating on Upstart, lowered his price target even further, from $20 to $15. Chiaverini cited a Kroll rating of a recent Upstart securitization, or rather a lack thereof, as indicating Upstart's class B and C notes were showing increased delinquencies and credit deterioration.

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