Why Upstart Stock Plunged 23% in July

Upstart (NASDAQ: UPST) stock dropped 23% in July, according to data provided by S&P Global Market Intelligence. There was macroeconomic data pointing to continued pressure for lenders, which is its core business, as well as continued concern about agentic artificial intelligence (AI) replacing software-as-a-service (SaaS) products.Upstart stock plunged several years ago when it couldn't sustain incredibly high growth as interest rates rose, and it hasn't gotten back on its feet yet. The business has somewhat recovered, but it's not where it used to be. It's also facing a tough macroeconomic environment, hampering market confidence in its future.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool