From Stock Story:

Shares of Upstart (NASDAQ:UPST) fell 5.9% in the morning session without any clear reason, possibly due to profit-taking after a strong 2023. While the tech sector saw gains, traditional industries faced challenges with a consumer spending slowdown. The market has surged recently with lower than expected inflation, prompting the Fed to project interest rate cuts in 2024, benefiting stocks. Upstart’s shares are highly volatile, indicating the market may not fundamentally change its perception despite the recent drop. The company is up 217% since the beginning of the year and is trading 43.2% below its 52-week high.



Read more: Why Upstart (UPST) Stock Is Nosediving