High-flying cryptocurrencies and growth stocks are among the most regularly played assets by traders and investors in 2021. And in recent times there have been a number of clear winners among the assets.
Since June, Upstart Holdings Inc The stock’s three-month return (NASDAQ: UPST) outperformed several of the world’s most popular cryptocurrencies: Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH) and Dogecoin (CRYPTO: DOGE).
Upstart operates a cloud-based artificial intelligence (AI) lending platform. The company’s platform aggregates consumer loan demand and then connects to its network of AI-enabled banking partners. Upstart was incorporated in 2012 and is headquartered in San Mateo, California.
Upstart announced last month that total second quarter revenue was $ 194 million, an increase of 1,018% from the second quarter of 2020.
“Our second quarter results continue to show why Upstart has the potential to be among the world’s largest and most impactful FinTechs,” said Dave Girouard, CEO of Upstart.
“Lending is the central backbone of financial services revenues and profits and artificial intelligence could be the most transformational change to come for this industry in its 5,000-year history,” said Girouard.
Here’s how the returns break down from June to today:
- Bitcoin is up $ 32,289 to $ 43,320 for a 34.16% return
- Ethereum drops from $ 1,829 to $ 3,006 for a 64.35% return
- Dogecoin is down from $ 0.245535 to $ 0.205483 for a return of -16.31%
And finally, Upstart went from $ 122.20 per share to $ 327.01 for a return of 167.02%.
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