Upstart stock dropped 60% as full-year revenue outlook is cut
The stock of Upstart dropped sharply on Tuesday after the artificial intelligence lending platform lowered its full-year revenue forecast, citing higher interest rates and an uncertain economy as reasons. The company posted better-than-expected first-quarter results after the bell on Monday, but it also lowered its sales prediction for 2022 from $1.4 billion to $1.25 billion. … Read more