Upstart Holdings Slips 9% After Morgan Stanley Downgrades The Stock To 'Underweight'

Shares of Upstart Holdings, Inc. (UPST) are slipping over 9% on Wednesday morning after Morgan Stanley downgraded the stock from "equal weight" rating to an "underweight" rating.

UPST is currently trading at $32.58, down $3.27 or 9.12%, on the Nasdaq. The stock has traded between $25.43 and $401.49 in the past 52-week period. The stock opened its trading at $31.49 after closing Tuesday's trading at $35.85.

Upstart Holdings was downgraded by analysts at Morgan Stanley from an "equal weight" rating to an "underweight" rating. The price target was lowered from $88.00 to $19.00.

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