I dumped on this stock on these message boards all the way from $300 to $72 or so. I bought my half position there. Then bought another half position at around $35. Then UPST's results turned negative. Everything about what I still think is a shady CEO sort of came true. While I love the idea of a low risk lending model where they make money just originating the loans. It is now obvious they are going to have to change that model a bit.
But I kept holding even as it went to like $12 or $13. I can now say I'm in the green on this stock. Not sure how I feel about the long term prospects. I honestly think this stock trades on hope and despair. The real value is probably lower than here.
But I plan on holding. Cause of the massive short position and the fact that the company isn't going to go broke once can see the sidelines have lots of buyers baked in. Some are going to want to go ahead and take their profits while they still have some or a lot. I think that is what we are seeing now. And then there will be some who shorted at some point over the last year and they are now getting squeezed hard and I sense soon margin calls will quicken the buyback rate.
In short, we have a short squeeze boys. Hold your shares and ride this thing to $200 or even $300. $Upstart Holdings, Inc.(UPST)$
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