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It’s also one of the most volatile stocks in the market. Since its IPO in December of last year, UPST is 550% higher. However, the stock is also down 60% from its early October highs. One factor in its weakness was the company’s guidance for Q4 which came in below expectations. Another is that growth stocks have been selling off with rising short-term rates.
UPST’s growth rate and volatility make it one of the most widely-followed stocks on social media. The next major catalyst for the stock is its next earnings report in January, although the stock could continue to see selling pressure if rates continue rising into next week’s FOMC meeting.
