After a bearish double-top pattern at $80, Upstart (UPST) lost 14.47% on Monday. The firm earned a downgrade from J.P. Morgan analyst Reginald Smith. Smith also downgraded LendingClub (LC).
The analyst said that UPST stock is priced to perfection, and suggested that investors buy JSC Kaspi (KSPI) instead. KSPI stock has attractive revenue growth and volumes that are above pandemic levels. Shopify (SHOP) and Affirm Holdings (AFRM) are good core holdings, thanks to above-average e-commerce growth trends.
Lemonade (LMND) stock fell by 11.3% on no news. After the stock jumped from below $20 in mid-October, the stock rally is due for a pause. Investors may also consider Root (ROOT), another automotive insurance firm. Root has a strong loss ratio and recently reported a profit.
Rocket Lab (RKLB) dropped by 11.46%. Shares more than doubled from $10 last month, closing at $24.16. In Q3, the firm posted a 55% increase in revenue Y/Y, to $104.8 million. The firm signed several contracts for the Electron launch worth $55 million.
In the fourth quarter, Rocket Lab expects revenue of between $125 million and $135 million. RKLB stock is an attractive alternative to holding privately held SpaceX. The stock has a considerable upside in the coming years.
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