Why Upstart Rocketed 44% Higher So Far This Week

Better-than-expected earnings sparked hope for a turnaround. Shares of fintech loan platform Upstart (UPST -1.20%) rocketed 44% higher through Thursday of this week, according to data from S&P Global Market Intelligence. The struggling fintech reported better-than-feared earnings amid operational improvements, along with a more optimistic outlook for the back half of the year. Given that the company has been thoroughly beaten down, about 95% below its 2021 highs, the stock rocketed higher on prospects for a ...