https://techcrunch.com/2022/05/10/the-bnpl-boom-may-be-fading/

Consumer lending provider Upstart Holdings reported its first-quarter results yesterday after the bell. In the wake of that particular set of data, shares of the company are off 53% in early trading today.

What caused such a catastrophic crash? The company cut its revenue growth forecast for the year and said rising loan rates appear to be hurting demand for its product. Slowing growth this year, potentially slipping net income, and a market in which interest rates are expected to rise even more have made Upstart an un-darling in investors’ eyes.