Upwork Inc
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Industrials : Professional Services | Small Cap Growth
Company profile

Upwork Inc. owns and operates a work marketplace that connects businesses with independent talent. The Company's independent talent refers to as freelancers, and, together with clients, as users, include independent professionals and agencies of varying sizes. The Company's marketplace offerings include Upwork Basic, Upwork Plus, Upwork Enterprise and Upwork Payroll. Upwork Basic offering provides clients with access to independent talent with verified work history on its work marketplace and client feedback; the ability to instantly match with the right freelancers, and built-in collaboration features. Upwork Plus offering is designed for teams looking to stand out to quality talent and scale hiring quickly. Upwork Enterprise offering is designed for larger clients. Upwork Payroll service offerings are available to clients when they choose to work with freelancers, where they engage through Upwork as employees.

Closing Price
$13.10
Day's Change
0.63 (5.05%)
Bid
--
Ask
--
B/A Size
--
Day's High
13.17
Day's Low
12.36
Volume
(Below Average)
Volume:
818,585

10-day average volume:
1,018,190
818,585

Bitcoin soars past $23,000 to highest since last September

1:41 pm ET January 21, 2023 (MarketWatch)
Print

By Clive McKeef

Bitcoin soared past $23,000 on Saturday, its highest level since September, as the crypto currency market recovered some ground in early 2023.

The rally came despite news on Thursday that Genesis Global Capital had filed for Chapter 11 bankruptcy protection. Genesis is owned by Digital Currency Group. The company has been caught up in the fallout from the collapses of crypto hedge fund Three Arrows Capital last spring and, more recently, crypto exchange FTX.

See also:Bitcoin just recovered from FTX's implosion. Could a Genesis bankruptcy push it to new low?

Bitcoin has climbed 12% in the past seven days and is up 35% for the year. Ether (ETHE) has jumped 13% over the past week and is up 38% since Dec. 31.

Crypto-related stocks also benefited from the rally Friday: Exchange Coinbase (COIN) rose while bitcoin miner Marathon Digital Holdings (MARA) jumped too.

Some traders were skeptical of the rally though.

"Bitcoin seems to be trading along with the Nasdaq and risk assets again, after the past months of decoupling," Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs told CNBC on Friday.

"This is good news for crypto investors in that if inflation is falling, and the Fed is closer to the end than the beginning of economic tightening, risk assets will catch a breath of fresh air and perhaps lure investors back in."

Edward Moya, senior market analyst at Oanda, said in a Friday note that if more Federal Reserve interest rate hikes happen beyond the Fed's March meeting, "risky assets broadly, including crypto, could be vulnerable to major selling pressure."

-Clive McKeef

	

(END) Dow Jones Newswires

January 21, 2023 13:41 ET (18:41 GMT)

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