Upstart stock drops after double downgrade

Published: Oct. 18, 2021 astatine 12:06 p.m. ET

Shares of Upstart Holdings Inc. are disconnected 3.6% successful Monday greeting trading aft Bank of America expert Nat Schindler downgraded the banal 2 notches, to underperform from buy, penning that helium sees "little country for upside" with shares up astir 800% connected the year. The S&P 500 has gained astir 19% truthful acold successful 2021. Schindler wrote that Upstart sees accidental successful the auto-lending marketplace aft having occurrence with its artificial-intelligence-driven personal-loan business, though this caller marketplace comes with its ain challenges. "Although car loans correspond a overmuch larger [total addressable market], we besides item the higher...