Cryptocurrencies and high-flying growth stocks are among the most regularly played assets by traders and investors in 2021. And as of late, there have been a number of clear winners among the assets.
Since June, Upstart Holdings Inc (NASDAQ: UPST) stock’s three-month return has 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 demand for loans, then connects to its network of AI-enabled banking partners. Upstart was incorporated in 2012 and is headquartered in San Mateo, California.
Upstart reported last month that total second-quarter revenue was $194 million, an increase of 1,018% from the second quarter of 2020. Total second-quarter fee revenue was $187 million, an increase of 1,308% year-over-year.
“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 center beam of revenue and profits in financial services and artificial intelligence may be the most transformational change to come to this industry in its 5,000-year history,” Girouard stated.
Here’s how the returns break down from June to present:
- Bitcoin is up from $32,289 to $43,320 for a return of 34.16%
- Ethereum is up from $1,829 to $3,006 for a return of 64.35%
- Dogecoin is down from $0.245535 to $0.205483 for a return of -16.31%
And finally, Upstart is up from $122.20 a share to $327.01 for a return of 167.02%
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