It's hard to believe that just last October, Upstart Holdings' (NASDAQ: UPST) stock was sporting a valuation of more than 500 times trailing-12-month earnings. At recent prices, it had toppled to a price-to-earnings ratio of less than 20, which is almost laughable for a growth stock. Upstart's business has been growing by leaps and bounds, with explosive revenue growth since it went public -- revenue more than tripled in 2021.
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