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No. of Recommendations: 78
As a consequence of the expiration of the lockup, there was a block trade of about 1.7 million shares today at about $120. This apparently spooked a number of holders and the stock slid to $114.40 immediately after, but bounced back to $119 at the close, probably aided by NAFCU's press release. When I saw the NAFCU press release, which was emailed to me as an alert by my broker (Schwab), I jumped on it as an opportunity and added to my Upstart position. There just seem to be one thing after another affirming that Upstart is for real.

I wouldn't be surprised if the people buying from the venture capitalists today had driven down the price from $150 to $120 in the last three or four days, by shorting the shares they knew that they'd be able to buy back at a cheaper price in the block trade.

This is OT, and please don't add to this part of the discussion, but I thought understanding what was going on would be useful to fellow Upstart investors.

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