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- UPST stock price has seen a strong fall and is expected to take a loss in the next quarter.
- Technical indicators are not favoring the bulls of UPST. It is currently trading near $12.4 with a drop of 6%
Upstart Holdings, Inc. is a fintech company which uses artificial intelligence and machine learning to assess the creditworthiness of borrowers. It was founded in 2012 and went public through a direct listing on the NASDAQ stock exchange in December 2020.Since its IPO, Upstart’s stock price has been on a rollercoaster ride, reaching an all-time high of around $162 per share before plummeting to around $12 per share in recent months.It is yet to see a strong recovery to a new highThe company partners with banks and other financial institutions to offer personal loans, auto loans, and student loans to consumers. Upstart claims that its AI-driven approach can provide more accurate risk assessments and faster loan approvals than traditional underwriting methods.
UPST stock has seen a significant plunge in the past few months. Many media reports claim that it is due to the significant change in business prospects of the company. The company may see a loss in the next fiscal quarter. It may observe a momentum in the future.
The Downtrend Of UPST Stock Continues
UPST stock price has seen a strong fall in the past few months. It has seen a drop from $36 to $12.4 within a few months. The weekly technical chart of UPST suggests a weak consolidated momentum. On coming to the daily chart it is trading near $12.4 with a drop of 6% in the intraday session. The asset price upside trend can see a halt near $15. Meanwhile a bounceback can be expected from $10. It is trading below 50 and 100 Daily Moving Average and can see a negative crossover. This can push the price to a new low in future.
Conclusion
Upstart Holdings has seen a strong volatility in its price since the IPO. It has seen a strong fall but can soon move back to a new high. UPST stock price is currently in a downside trend and is expected to see a bounceback from $10.
Technical Levels
Major Support:$10
Major Resistance;$15
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
