Lending platform Upstart Holdings ($UPST) has been on my watchlist since its' massive volume gap up earlier this year. This recent IPO posses many of the characteristics of a potential leading stock. With triple digit earnings and accelerating sales, UPST clearly is up to something good. In addition, management currently owns over 20% of Upstart's shares indicating their belief in this consumer loan company. Analysts are also estimating Upstart to have earnings grow over 400% this year, something few companies achieve.
I particularly like Upstart's chart. The 89% gap up on massive volume on March 18, 2021 indicates clear institutional buying as only funds with major buying power can move a stock with that type of velocity. UPST's weekly chart continues to impress me with its' huge skyscraper accumulation over the last few weeks. Should the market gain traction and resume a strong uptrend, UPST may have the potential to be a leading stock. It's definitely a stock to watch in the coming weeks.
To learn more about swing trading and trading in general, visit my course page.
Full Disclosure: I currently own UPST.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.