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Why did Upstart Holdings Stock Sink Today? CEO Sells Shares

Seeking Alpha2022-03-05

  • Upstart Holdings(NASDAQ:UPST)stock dropped 14%in late Friday trading after the company's CEO, Dave Girouard,sold about 133Ksharesof the stock, according to a Form 4 filed late Thursday.
  • The insider sale likely accounts for the large decline. Meanwhile, other financial and lending technology stocks were pressured as investors shed risk. Block(NYSE:SQ)isdown 6.9%, LendingClub(NYSE:LC)-8.1%, Paysafe(NYSE:PSFE)-5.8%, and Lightspeed Commerce(NYSE:LSPD)-8.5%.
  • Less than a month ago, Upstart (UPST)stock surged after it announced better-than-expected Q4 earnings, strong guidance, and a $400M stock buyback.

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Comment5

  • HanaRie
    ·2022-03-06
    Hm
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  • JLCH
    ·2022-03-06
    yo
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  • surfer guy
    ·2022-03-06
    This upstart from late 2020 is not having much upside at the moment ‌[開心] 
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  • koolgal
    ·2022-03-05
    Upstart's CEO is selling his shares and that's why the share price tanked.  It is a loss of confidence by the investors when this happens. 
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  • SSSG
    ·2022-03-05
    Noted
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