Amazon shareholders will challenge the company on executive pay, tax transparency, working conditions and unionisation, as chief executive Andy Jassy faces his first annual meeting at the helm of the ecommerce and cloud computing giant. The $1tn tech company is opposing all 15 of the shareholder proposals, the most it has faced since 2010, according to regulatory filings. In that time, no proposal has secured 50 per cent support and voting has historically followed the board’s recommendations. Read More...
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Why Upstart Stock Was Falling Again Today
On an otherwise good day for financial stocks and the markets generally, shares of Upstart (NASDAQ: UPST), a fintech lending platform based on artificial intelligence (AI), were falling today, and were down around 7.2% as of 3:40 p.m. ET. On Friday, Wedbush analyst David Chiaverini, who already had an underperform rating on Upstart, lowered his price target even further, from $20 to $15. Chiaverini cited a Kroll rating of a recent Upstart securitization, or rather a lack thereof, as indicating Upstart’s class B and C notes were showing increased delinquencies and credit deterioration.
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