Shares of Upstart Holdings, Inc. (UPST) soared on Monday, driven by a confluence of positive factors, including robust bullish options activity and a strategic partnership with AMOCO Federal Credit Union.
Recent days have witnessed a surge in options trading surrounding UPST, with a significant majority (70%) exhibiting bullish sentiment. These call options, totaling $489,292, suggest that major investors are anticipating a rise in the stock price, potentially targeting a range between $24.50 and $40.
Adding fuel to the rally, Upstart announced a new collaboration with AMOCO Federal Credit Union, a Texas-based financial cooperative boasting over 106,000 members and $1.4 billion in assets. This partnership will enable AMOCO members to access personal loans through Upstart’s innovative AI-powered lending platform.
The alliance with AMOCO represents a strategic move for Upstart, expanding its reach and service offerings. This expansion is expected to further bolster investor confidence in the company’s growth trajectory and its ability to attract a wider customer base.
By the end of the trading day on Monday, UPST stock had surged by 9.94% to close at $40.47, according to Benzinga Pro. This impressive performance reflects the market’s positive response to the company’s recent developments and its optimistic outlook for the future.
