What's Going On With Upstart Stock Today?

Shares of AI lending company Upstart Holdings Inc UPST are on the move Thursday after the company announced it will add two new applications to its auto retail platform.

What Happened: Upstart said it will add digital finance and online sales to its auto retail platform in order to offer dealerships a seamless online to in-store car-buying experience. 

The digital finance application enables a frictionless signing and contracting process, with automated verification, more loan approvals and next-day funding powered by Upstart's AI. The online sales application enables the completion of a car purchase entirely online.

"As more consumers opt for a digital car-buying experience, the new Digital Finance and Online Sales applications will enable dealerships to deliver the buying experience that consumers expect," said Dave Girouard, co-founder and CEO of Upstart.

Upstart said it will showcase the applications at the National Automobile Dealers Association Show, beginning on Jan. 26.

Upstart is set to report its fourth-quarter financial results on Feb. 14.

Check This Out: How To Buy A Car: A Step-By-Step Guide For 2023

UPST Price Action: Upstart has a 52-week high of $161 and a 52-week low of $12.01.

The stock was down 7.04% at $15.32 at time of publication, according to Benzinga Pro.

Photo: courtesy of Upstart.