After the AI-powered lending company, Upstart (NASDAQ) posted strong revenue growth and net income growth but provided guidance that was lower than what the market needed, shares of the stock plunged almost 20% pre-market.

Company reportedRevenue of $228M was 250% higher than a year ago, which is well ahead for $214M. GAAP EPS was at $.30/share and non-GAAP $.60/share. Again, this compares well with estimates of $.33/share.

Guidance also exceeded expectations with an expected revenue of $255-$265M, compared to a forecast of $227.6M at the moment and adjusted earnings expectations of $.51/share against $.20/share.

The stock traded significantly lower during the initial reaction. Adjusted EBITDA guidance is for $51-$53M, below this quarter’s $59.1M mark, which along with the lower adjusted earnings outlook may be part of the issue, especially as Q4 is a seasonally strong quarter for Upstart around holiday demand.

Market gravity may be at play as Upstart is a favourite of both momentum and growth investors. Shares were up nearly 200% from this summer’s lows and, even at the pre-market levels, are up 1170% from last year’s IPO price. Upstart trades at a 30x price per share (using the highest end of their guidance 2021).

“Since Upstart’s IPO a year ago, we’ve more than tripled our revenue, tripled our profits, tripled the number of banks and credit unions on our platform, and tripled the number of auto dealerships we serve,” said Dave Girouard, co-founder and CEO of Upstart. Upstart has become the Steph Curry for the FinTech sector with all those 3s.

Although analysts have not yet weighed in, Bank of America retained an underperform rating. In the immediate aftermath, it dropped its price target from $255/share to $255/share. Pre-market shares are at $253, which is more than 19% below yesterday’s closing.