The stock market loves a good comeback story, and Upstart Holdings (UPST) is writing its own. Over the past six months, shares of this artificial intelligence (AI)-powered lending platform have soared by 181%, driven by strong financial results and tailwinds from the U.S. Fed’s interest rate cuts. In comparison, the broader S&P 500 Index ($SPX) managed a 15.1% increase over the same period.
This impressive performance is further bolstered by the company’s solid third-quarter (Q3) financial results, which exceeded market expectations. UPST stock is up approximately 15% in pre-market trading, driven by solid lending volumes and a return to positive adjusted EBITDA ahead of schedule.
