What's Going On With Upstart Holdings Stock?

Upstart Holdings, Inc. UPST shares are trading higher Thursday on continued upward momentum. The stock rose by more than 20% Wednesday and is up more than 80% over the past month.

What To Know:

The Federal Reserve left rates unchanged and signaled three possible rate cuts in 2024 sending Wall Street rocketing higher on Wednesday. Many stocks in the financial sector climbed on the news, and Upstart Holdings shares closed the day up more than 20%.

The upward momentum is carrying into Thursday as investors digest retail sales and jobless claims data released before the market open.

Upstart is one of the top trending tickers on WallStreetBets and Yahoo Finance Thursday and is trading on heavy volume. According to data from Benzinga Pro, more than 6 million shares have already been traded in the session, compared to the stock's 100-day average volume of 6.814 million shares.

Upstart has also grabbed the attention of short-sellers with 42.72% of available shares being sold short.

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UPST Price Action: According to Benzinga Pro, Upstart Holdings shares are up  7.5% at $45.91 at the time of publication.

Image: Pete Linforth from Pixabay