🔴 Upstart is trading 5.1% down today as rising Treasury yields pressure rate-sensitive growth stocks

Upstart is trading 5.1% down at $29.04 as rising Treasury yields pressure rate-sensitive growth stocks and reverse much of the August 19 risk-on rebound.

• The 30-year Treasury yield reached 5.217%.
• Major U.S. indexes moved lower on August 20: Nasdaq Composite -0.46% and Dow Jones Industrial Average -0.65%.
• Mizuho reiterated Outperform on August 19; supportive, but it does not explain today’s decline.