Despite massive gains experienced across the board on Friday's session, artificial intelligence-powered lending platform Upstart (NASDAQ:UPST) -54.6% nosedived the most among the top five biggest financial losers (market cap of $2B+) in the week ended May 13. Shares fell substantially after its 2022 guidance disappointed investors, followed by a series of analyst downgrades.
As for the rest of the biggest losers within the financial sector, Cryptocurrency lender Silvergate Capital (NYSE:SI) -32%, which experienced selling pressure as bitcoin (BTC-USD) -13% and other major tokens slump in the wake of investor uncertainty;
Previously, (May 13) consumer sentiment slid below expectations in May, as inflation hovers around 40-year highs.
Despite massive gains experienced across the board on Friday's session, artificial intelligence-powered lending platform Upstart (NASDAQ:UPST) -54.6% nosedived the most among the top five biggest financial losers (market cap of $2B+) in the week ended May 13. Shares fell substantially after its 2022 guidance disappointed investors, followed by a series of analyst downgrades.
As for the rest of the biggest losers within the financial sector, Cryptocurrency lender Silvergate Capital (NYSE:SI) -32%, which experienced selling pressure as bitcoin (BTC-USD) -13% and other major tokens slump in the wake of investor uncertainty;
Previously, (May 13) consumer sentiment slid below expectations in May, as inflation hovers around 40-year highs.