Why Upstart Stock Is Falling Hard

Shares of the artificial intelligence lending platform Upstart Holdings (NASDAQ: UPST) plummeted this morning after an analyst downgraded the company's stock and drastically cut his price target for its shares. Morgan Stanley analyst James Faucette downgraded Upstart's shares from equal weight to underweight and slashed his price target for the stock from $88 down to $19. Today's comments from Faucette add to a general pessimism that some investors have had toward Upstart over the past year.