Why Shares of Upstart, Katapult, and LendingClub Rose Today

The past month or so has been terrible for fintech company stocks, but on Tuesday, they shifted gears as investors began to shake off their fears about the potential risks carried by the omicron COVID-19 variant. On a day when the Nasdaq Composite climbed by 3%, Upstart (NASDAQ: UPST) rose roughly 10%, LendingClub (NYSE: LC) gained about 8%, and Katapult (NASDAQ: KPLT) rose by 14.3%. This autumn, worries intensified that inflation would be stronger and last longer than experts previously expected.