Upstart reported the earnings and fell 58%.
I know this is premarket and once market opens in half hour, buyers may buy the dip. Or even more people will sell it and price may fall further
But what protect our other holdings from falling 50% in one day?
Its not that the management did something wrong. There were not negative news in this quarter, neither any scandal, any lawsuit, any profit warning etc. I'm sure they did the best with prevailing economic conditions and will do their best in the future.
And I don't think there was any way investors could predict that stock would fall so much after those earnings
If any stock can fall 50%+ in one day, shouldn't all of us invest exclusively into indexes?
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