Rip in the short-term to interest rate spikes
$Upstart(UPST.US$ Bought at $116, dollar averaged to 110, sold at $94, still going down. Still believe it will recover in the coming weeks, but will be slow when future earnings are hindered by factoring in the rising interest rates.
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Just a random dude trying to make sense of a nonsensical market. Swing & Scalp to the top 🤘
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Medium235 : So you sell because the price went down? I mean you already knew interest rates will go up when you buy at 116
standalee31OP Medium235: I'm not worried. I'll buy back what I sold when it dips a little bit more.
Knumee standalee31OP: why are all the fintech stocks going down when interest rates are going higher I thought that helped loans
standalee31OP Knumee: Interests rates going up makes it less appealing to borrow money from loans as people will have to pay back more unless they have fixed rates, and with the 8% inflation of March heading into April, the future earnings of companies that loans out money is factored in. Earnings report is still a few weeks out, but will recover slowly and gradually.