NASDAQ:UPST - Nasdaq - US91680M1071 - Common Stock - Currency: USD
The market is buzzing with gapping stocks on Wednesday. Let's uncover which stocks are experiencing notable gaps during today's session.
The US market is yet to commence its session on Wednesday, but let's get a preview of the pre-market session and explore the top gainers and losers driving the early market movements.
Shares of aI-powered lending platform Upstart (NASDAQ:UPST) fell 8.5% in the afternoon session after the Nasdaq dropped 1.3%, marking its fourth consecutive day of losses, as concerns over the tech sector continue to mount. The downturn appears to be most pronounced in stocks heavily exposed to the AI market, with traders growing uneasy about stretched valuations and potential slowdowns in AI-related spending.
Mentions: NVDA
Shares of aI-powered lending platform Upstart (NASDAQ:UPST) fell 8.5% in the afternoon session after the Nasdaq dropped 1.3%, marking its fourth consecutive day of losses, as concerns over the tech sector continue to mount. The downturn appears to be most pronounced in stocks heavily exposed to the AI market, with traders growing uneasy about stretched valuations and potential slowdowns in AI-related spending.
Mentions: NVDA
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Upstart had a strong end to 2024 and is guiding for momentum in 2025. Revenue is growing at a hyper pace, and institutions and analysts are buying.
Shares of aI-powered lending platform Upstart (NASDAQ:UPST) jumped 32% in the afternoon session after the company reported an insanely good quarter. For starters, it demolished analysts' revenue, EPS, and adjusted operating income expectations. Growth was driven by a 68% increase in loan originations, reaching $2.1 billion, as the company benefited from improved demand and conversions. On top of that, its revenue and EBITDA guidance for next quarter beat Wall Street's estimates by a huge margin
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Let's have a look at what is happening on the US markets after the closing bell on Tuesday. Below you can find the top gainers and losers in today's after hours session.