The Consumer’s Last Gasp—Borrowing To Keep Up With Inflation

The shares of aptly named Upstart Holdings cratered 60% this morning after the cloud-based “artificial intelligence lending platform” shocked markets by cutting full-year revenue guidance on macro uncertainties and a possible recession. Imagine that! The stock closed today at $33, down from $80 yesterday, and a whopping $400 in mid-October. In round dollar terms, the […]
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