Why Upstart (UPST) Shares Are Popping Off Tuesday

Upstart Holdings Inc UPST shares are trading higher by 9.30% to $36.85 going into the close of Tuesday's session. The stock may be trading higher in sympathy with the broader market following a softer-than-expected CPI report, which showed slowing inflation in May.

Lower inflation rates can contribute to improved consumer purchasing power and affordability. When inflation remains under control, borrowers may have greater confidence in their ability to manage loan repayments.

This can lead to increased loan applications and utilization of lending platforms like Upstart.

What Happened With Inflation Data?

In May, inflation exhibited a greater deceleration than anticipated, leading investors to grow more optimistic about the potential conclusion of Federal Reserve rate increases.

According to data released by the Bureau of Labor Statistics on Tuesday, the U.S. consumer price index (CPI) recorded a 4% year-on-year increase in May, compared to 4.9% in April.

This figure slightly undershot the average economist expectation of 4.1% and represents the lowest inflation reading since March 2021...Read More

According to data from Benzinga Pro, UPST has a 52-week high of $41.30 and a 52-week low of $11.93.