Amidst a steady labor market, high-interest rates, and high inflation, recessionary fears are over the roof. Hence, I think it might be best to steer clear of Aurora Innovation, Inc. (AUR), Hut 8 Mining Corp. (HUT), and AppHarvest, Inc. (APPH), which have plunged significantly over the past months.
The Labor Department reported that the initial claims for state unemployment benefits increased by 7,000 to a seasonally adjusted 198,000 for the week ended March 25, 2023. Economists polled by Reuters had forecast 196,000 claims for the latest week. Claims have stayed low despite layoffs in the technology industry.
