Considering the current weak market sentiment, it could be wise to steer clear of fundamentally weak stocks Farfetch Limited (FTCH), Jumia Technologies AG (JMIA), and Grom Social Enterprises, Inc. (GROM). Let’s discuss the reasons.
While investors cheered on the softer-than-expected inflation report released last week, Morgan Stanley's CIO Mike Wilson warned of a stemming credit crunch from the fallout of Silicon Valley Bank. Tighter financial conditions could raise the risk that the economy falls into a recession this year as companies and households experience difficulty obtaining credit.
