So much of the reaction to UPST earnings seems to me due to the market’s mood on this particular day. At least, the extent of the sell-off has got to be related to the fearful trading going on with other high growth names (Tesla down 10 percent, eg). Sometimes before earnings a stock will run up a bit on anticipation of a big number, the ebullience of investors evident in the price action, but the psychology of investors today with UPST looked fearful all day long. Not a comment about the business of Upstart, but important to highlight context here in order to assess whether there’s a buying opportunity now (I think there is) or whether the market is telling us to sell. I look forward to a mood shift on this stock.
Purely speculation on my part but I do think there maybe something to this and why it dipped so much.
TSLA, AMC, LMND and PLTR all down 10+% today.
I don’t invest in any of those stocks but I do think some mime investors were in Upstart and decided to get out.
I’m not selling