<p><strong>Upstart</strong>(UPST -0.29%) 的股票在九月份回落，显示出其贷款的违约率可能上升的迹象。</p>
<p>虽然 Upstart 没有直接发布报告，但投资者对第三方市场研究和其他似乎显示其贷款表现不佳的消息作出了反应。考虑到经济疲软的其他迹象，包括劳动力市场的急剧放缓，这一结论也显得合理。</p>
<p>投资者可能也对 2022 年的重演感到担忧，当时股票因增长停滞而暴跌，利润转为亏损，尽管那是由于利率上升所致，而现在并没有发生这种情况。包括 BNPL 领域在内的其他金融科技股票上个月也因信用风险上升的迹象而回落。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU5NzYvdXBzdGFydC1maW50ZWNoLWxvYW4tYXBwcm92YWwuanBnJnc9NzAw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU5NzYvdXBzdGFydC1maW50ZWNoLWxvYW4tYXBwcm92YWwuanBnJnc9NzAw"/></p>
<p>图片来源：Getty Images。</p>
<p>根据 S&amp;P Global Market Intelligence 的数据，到月底，Upstart 的股价下跌了 31%。从下面的图表可以看出，下降的主要部分发生在月底。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ec7d803e56dacb019fb2e7e867639dcf.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ec7d803e56dacb019fb2e7e867639dcf.png"/></p>
<p>UPST 数据来源于 YCharts</p>
<h2>投资者对 Upstart 持怀疑态度</h2>
<p>低收入美国人的信用状况恶化，作为 Upstart 的核心市场，似乎是上个月抛售的主要原因。</p>
<p>Upstart 本月最糟糕的一天是 9 月 10 日，股价在高成交量下下跌了 9.4%。触发因素似乎是 Tricolor Holdings 的破产，这是一家以向没有信用的借款人提供贷款而闻名的二手车经销商。欺诈行为也在破产中发挥了作用。尽管该公司与 Upstart 没有直接联系，但破产似乎对信用市场产生了广泛影响，影响了像 Upstart 这样的波动性股票。</p>
<p>该股票在 9 月 17 日因美联储降息而恢复了这些损失。然而，随着对信用状况恶化的担忧再次出现，股价开始下滑。</p>
<p>在 9 月 29 日，BTIG 发布报告称对 Upstart 资产支持证券违约率的增加感到惊讶，股价下跌了 8%，尽管分析师在两天后修正了他们的数字，基本上撤回了之前的评论。这帮助股价在 10 月初上涨了 2.6%。</p>
<h2>Upstart 的未来如何？</h2>
<p>此时，很难说变化的信用市场对公司产生了怎样的影响，因为我们还没有直接听到 Upstart 的消息。管理层在 9 月 9 日参加了 <strong>高盛</strong> 的会议，但似乎没有对信用或违约的任何重大变化发表评论。</p>
<p>在月底，汽车零部件制造商 First Brands 也申请了破产，进一步加剧了对汽车贷款违约的担忧。</p>
<p>目前，Upstart 的抛售似乎为时尚早，因为第二季度的业绩强劲，第三季度的指引也很好。如果业务在第三季度保持稳定，股价可能会反弹。</p>

UPST

<p>Upstart 的股票在九月份下跌了 31%，原因是其贷款的逾期率上升，这受到第三方研究和经济疲软的影响。特里科洛尔控股公司的破产加剧了人们的担忧，影响了信用市场。尽管在美联储降息后，股票短暂反弹，但在其资产支持证券的逾期率上升的报告发布后再次下跌。尽管面临这些挑战，Upstart 在第二季度的强劲业绩表明，如果第三季度保持稳定，可能会出现反弹</p>

<p>Shares of <strong>Upstart</strong>(UPST -0.29%) pulled back in September on signs that delinquency rates on its loans could be rising.</p>
<div class="lb-trans"><p><strong>Upstart</strong>(UPST -0.29%) 的股票在九月份回落，显示出其贷款的违约率可能上升的迹象。</p>
</div><p>There was no direct report from Upstart, but investors reacted to third-party market research and other news that seemed to show poor performance in its loans. That conclusion also makes sense given other signs of a weakening economy, including a sharp slowdown in the labor market.</p>
<div class="lb-trans"><p>虽然 Upstart 没有直接发布报告，但投资者对第三方市场研究和其他似乎显示其贷款表现不佳的消息作出了反应。考虑到经济疲软的其他迹象，包括劳动力市场的急剧放缓，这一结论也显得合理。</p>
</div><p>Investors may also be wary of a repeat of 2022, when the stock crashed as its growth ground to a halt and profits flipped to losses, though that was driven by rising interest rates, which is not what's happening now. Other fintech stocks, including those in the BNPL sector, pulled back on signs of rising credit risk last month as well.</p>
<div class="lb-trans"><p>投资者可能也对 2022 年的重演感到担忧，当时股票因增长停滞而暴跌，利润转为亏损，尽管那是由于利率上升所致，而现在并没有发生这种情况。包括 BNPL 领域在内的其他金融科技股票上个月也因信用风险上升的迹象而回落。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzU5NzYvdXBzdGFydC1maW50ZWNoLWxvYW4tYXBwcm92YWwuanBnJnc9NzAw" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F835976%2Fupstart-fintech-loan-approval.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>By the end of the month, Upstart had fallen 31%, according to data from S&amp;P Global Market Intelligence. As you can see from the chart below, the bulk of the decline came toward the end of the month.</p>
<div class="lb-trans"><p>根据 S&amp;P Global Market Intelligence 的数据，到月底，Upstart 的股价下跌了 31%。从下面的图表可以看出，下降的主要部分发生在月底。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/ec7d803e56dacb019fb2e7e867639dcf.png" alt="" original-src="https://media.ycharts.com/charts/ec7d803e56dacb019fb2e7e867639dcf.png"/></p>
<p>UPST data by YCharts</p>
<div class="lb-trans"><p>UPST 数据来源于 YCharts</p>
</div><h2>Investors turn skeptical on Upstart</h2>
<div class="lb-trans"><h2>投资者对 Upstart 持怀疑态度</h2>
</div><p>The deteriorating credit picture for low-income Americans, a core market for Upstart, seemed to be the main reason for the sell-off last month.</p>
<div class="lb-trans"><p>低收入美国人的信用状况恶化，作为 Upstart 的核心市场，似乎是上个月抛售的主要原因。</p>
</div><p>Upstart's worst day of the month came on Sept 10, as it fell 9.4% on high volume. The trigger seemed to be the bankruptcy of Tricolor Holdings, a used-car dealer known for lending to borrowers with no credit. Fraud also played a role in the bankruptcy. Though the company isn't directly connected to Upstart, the bankruptcy seemed to weigh on credit markets broadly, impacting volatile stocks like Upstart.</p>
<div class="lb-trans"><p>Upstart 本月最糟糕的一天是 9 月 10 日，股价在高成交量下下跌了 9.4%。触发因素似乎是 Tricolor Holdings 的破产，这是一家以向没有信用的借款人提供贷款而闻名的二手车经销商。欺诈行为也在破产中发挥了作用。尽管该公司与 Upstart 没有直接联系，但破产似乎对信用市场产生了广泛影响，影响了像 Upstart 这样的波动性股票。</p>
</div><p>The stock recovered those losses, benefiting from the Federal Reserve's rate cut on Sept. 17. However, the stock began sliding after that as concerns about weakening credit arose again.</p>
<div class="lb-trans"><p>该股票在 9 月 17 日因美联储降息而恢复了这些损失。然而，随着对信用状况恶化的担忧再次出现，股价开始下滑。</p>
</div><p>On Sept. 29, the stock fell 8% after BTIG issued a note saying it was surprised by the increase in delinquencies in Upstart's asset-backed securitizations, though the analyst corrected their figure two days later, essentially retracting the earlier comment. That helped the stock gain 2.6% to start October.</p>
<div class="lb-trans"><p>在 9 月 29 日，BTIG 发布报告称对 Upstart 资产支持证券违约率的增加感到惊讶，股价下跌了 8%，尽管分析师在两天后修正了他们的数字，基本上撤回了之前的评论。这帮助股价在 10 月初上涨了 2.6%。</p>
</div><h2>What's next for Upstart?</h2>
<div class="lb-trans"><h2>Upstart 的未来如何？</h2>
</div><p>At this point, it's difficult to say how the changing credit markets are impacting the company, as we haven't heard directly from Upstart. Management participated in a <strong>Goldman Sachs</strong> conference on Sept. 9, but didn't seem to comment on any material changes in credit or delinquencies.</p>
<div class="lb-trans"><p>此时，很难说变化的信用市场对公司产生了怎样的影响，因为我们还没有直接听到 Upstart 的消息。管理层在 9 月 9 日参加了 <strong>高盛</strong> 的会议，但似乎没有对信用或违约的任何重大变化发表评论。</p>
</div><p>Toward the end of the month, First Brands, an auto-parts maker, also filed for bankruptcy, adding to fears about auto loan delinquencies.</p>
<div class="lb-trans"><p>在月底，汽车零部件制造商 First Brands 也申请了破产，进一步加剧了对汽车贷款违约的担忧。</p>
</div><p>For now, the sell-off in Upstart seems premature as second-quarter results were strong and so was guidance for the third quarter. If the business held up in the third quarter, the stock could be due for a rebound.</p>
<div class="lb-trans"><p>目前，Upstart 的抛售似乎为时尚早，因为第二季度的业绩强劲，第三季度的指引也很好。如果业务在第三季度保持稳定，股价可能会反弹。</p>
</div>

Why Upstart Stock Lost 31% in September

- Upstart 股价在 9 月下跌 31%，因贷款逾期率上升的迹象。  
- 投资者对低收入美国人的信用状况恶化表示担忧，导致抛售。  
- 尽管面临挑战，Upstart 第二季度业绩强劲，第三季度前景乐观。

为什么 Upstart 的股票在九月份下跌了 31%