New Bank for UPST

Investment Analysis Clubs Saul’s Investing Discussions
1

I know, I know…hoping I won’t be run off the board for still trusting Upstart.

They just announced a new partnership, this time with a bank instead of a credit union.

https://www.businesswire.com/news/home/20220602005403/en/.

LEBANON, N.H. & SAN MATEO, Calif.–(BUSINESS WIRE)–Mascoma Bank, a $2.6 billion mutual bank and Certified B-Corporation® serving Northern New England, announced today that it has partnered with Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, to offer AI-powered personal loans to more people.

I took special note because:

  1. It’s a 2.6b bank rather than a credit union
  2. They began partnering in March and are announcing in June, which seems to be a faster turnaround time.
  3. My sister-in-law works for Mascoma. I’ve written her to see if she has had any direct experience with the product that she can share.

JR

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2

Upstart is still working and may be the buy of the century.

All they have to do is prove it.

Not knowing how the market would react to them providing liquidity was a huge error. I will watch and let the potential profits roll on by until I see that they can prosper in a challenging Macro economic environment. Also, I want to see how the executive team handles this stress.

Cheers
Qazulight

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