1 Stock I Wouldn't Touch With a 10-Foot Pole [Yahoo! Finance]
Meta Platforms, Inc. - Class A (META)
Company Research
Source: Yahoo! Finance
I'm talking about Upstart (NASDAQ: UPST) . This fintech has long used AI in its business model, a fact that you might think would push up its shares amid the excitement surrounding companies embracing this technology. But the stock is currently down 45% in 2024. The bulls might be thinking Upstart is due for a boost, and that now is the best time to buy shares as they sit 94% off their peak price. However, I'm not touching this stock with a 10-foot pole. A powerful solution Upstart has developed an AI-powered tool that it believes can better analyze a borrower's creditworthiness. The platform looks at 1,600 different variables about a person when making a lending decision. Upstart has partnered with over 100 banks and credit unions, as well as 103 car dealerships, all of which use its technology to gain customers, boost lending, and control risk. At a high level, this seems like a fantastic solution that can increase access to loans for those typically left out of tradition
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