Upstart Holdings Inc.’s controversial stock will be put to the test Tuesday afternoon when the company posts earnings.
Shares of Upstart UPST have nearly quadrupled so far this year, although they’re off 87% from their all-time closing high of $390, achieved in October 2021. Shares of the lending company have been riding the wave of enthusiasm for artificial intelligence, while Upstart has also shown improvements to a business that has struggled in a higher-rate and more uncertain macroeconomic environment.
Stock movement: Upstart shares tend to make wild swings after earnings. The company has posted results 10 times since going public, and nine of those reports were followed by a double-digit-percentage swing in the next trading session. Upstart shares have gained following each of the company’s past two reports, and they’re up 284% so far this year.
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