Why Upstart Shares Are Getting Hammered Today

Upstart Holdings Inc UPST shares are trading lower by 15.86% at $43.40. Stocks have been highly volatile following the Federal Reserve’s recent 50 basis point rate hike, which has weighed on the Nasdaq heavily.

Upstart is also trading lower by 45.50% over the trailing month as investors digest the latest U.S. inflation data, which came in higher-than-expected. Anticipation of further Fed policy tightening has also continued to weigh on stocks across sectors.

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Upstart provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform.

According to data from Benzinga Pro, Upstart has a 52-week high of $401.49 and a 52-week low of $25.43.