What's Going On With Upstart's Stock Today?

Upstart Holdings Inc’s UPST stock traded up Tuesday morning by about 3%, following a strong Monday in which the stock traded higher by more than 10%. The stock has been on a tear, trading up more than 200% in the last six months.

The stock is also trading higher amid overall strength in small-caps. The iShares Russell 2000 ETF IWM, which tracks 2000 of small-cap companies in the United States, was outperforming all major indices Tuesday morning in a sign that small caps could be coming back in favor. 

What’s Going On?: Upstart is a California-based fintech company that uses AI technology to determine if someone is qualified or a good fit for a personal loan. Upstart’s stock has been on an uptrend as investors began focusing more on different AI plays a few months ago amid the rise of ChatGPT. 

Price Action: Upstart’s stock opened Tuesday’s session trading around $52 a share before shooting up to nearly $56 a share. Just a couple of months ago in early May, the stock was trading at less than $13 a share.