Things shifted dramatically last night for Upstart (NASDAQ:UPST) stock after the company reported earnings. The reaction brought about a 30% spike in UPST stock. I don’t condone chasing such a large move this fast. And while I do remain optimistic about UPST, I can’t promise that it will rally much more than this. (It did experience a massive rally last summer from $110 to $400 in three months).
Bullish possibilities aside, I believe we should be smart about this and not blindly chase the open. Investors should mark the overnight high of $150 per share as resistance.
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