earslookin said responded to why the stock popped last month: Purchase commitment from Blue Owl Capital for $18 billion in loans over 18 months, along with an analyst upgrade and a note about an insider cashing out $5m.

The Blue Owl announcement was big. Upstart has been building up their capacity to continue to offer loans through the business cycle, not just when the industry has an appetite for short term loans. This will help keep them from getting constrained by availability of money to lend, like they were over the last few years. Lack of money to lend was a big problem for them, though not the only problem.

Prior to that announcement, the taming of inflation and the beginning of interest rate cuts by the Fed changed the prevailing wind on that front, putting the wind in Upstart's sails instead of blowing against them.

Now the official results are trending up, as reported in their earnings yesterday, and I assume maybe some shorts are being forced to cover.

Explosive stock price rise of 45% so far today, at the moment. Glad I've held on, lol.