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Upstart Holdings

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.


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Full Disclosure: I currently own UPST.


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