Why Pagaya Stock Dropped 20% in September
Shares of Pagaya Technologies (NASDAQ:PGY) stock fell 20% in September, according to data provided by S&P Global Market Intelligence. Investors are worried about how high interest rates and bond market volatility will impact the credit evaluation company.
Pagaya operates a credit platform driven by artificial intelligence (AI) and machine learning. It teams up with client lenders, who have Pagaya’s platform integrated into their systems, to assess borrower risk quickly and more accurately than traditional models. Client partners can then approve more loans without adding risk.
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