1 Unstoppable Artificial Intelligence (AI) Stock Down 90% It's Time to Buy on the Dip

Upstart Holdings (NASDAQ: UPST) was a pandemic darling. Its stock came public in 2020 priced at $20, and it soared 20-fold to over $400 within just 10 months. Historically low interest rates drove a surge in demand for loans among consumers, which was great for the company's artificial intelligence (AI)-powered lending marketplace.Unfortunately, Upstart came unstuck when interest rates started to rise in 2022. Consumer demand for loans declined sharply, and risk appetite dried up among Upstart's financing partners, so the company struggled to find reliable funding for its originations. As a result, Upstart stock plunged by more than 96% to trade at just $13 near the end of 2022.But the company's financial results for the recent second quarter of 2024 (ended June 30) suggest it's on the road to recovery. Upstart stock is already well off its lows, and here's why more upside could be around the corner.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool