Down 95%, Is Upstart Stock a Buy in 2023?

Upstart Holdings (NASDAQ: UPST) uses artificial intelligence (AI) to help banks make better lending decisions. The disruptive fintech company wowed investors when it reported several consecutive quarters of triple-digit revenue growth in 2021, and its share price soared more than tenfold in the 10 months following its IPO in late 2020. Upstart's financial performance has deteriorated amid the challenging economic environment, and its share price has fallen 95%.