The Fed’s incessant rate hikes to tame the sky-high inflation and the recent financial sector turmoil have taken a toll on investor sentiments. Amid soaring recessionary concerns, let us explore stocks trading under $1, Advent Technologies Holdings, Inc. (ADN), AEye, Inc. (LIDR), and Kidpik Corp. (PIK).
The Fed’s interest rate hikes had their intended effect on inflation, which declined from the peak of 9.1 to 5% in March 2023. However, core inflation increased by 0.4% and 5.6% year-over-year. Since inflation is well above the Fed’s target of 2%, experts anticipate further rate hikes.
