In the past few months, the sell-off in growth stocks has accelerated amid a volatile and extremely tricky macro environment. Several factors have negatively impacted investor sentiment, that include rising inflation rates, the possibility of multiple interest rate hikes, a new and contagious COVID-19 variant, and what many investors believe to be an overvalued equity market.
However, the fintech market is expected to grow at a CAGR of 26.87% over the next four years, which currently makes beaten-down stocks, such as Affirm (AFRM) and Block (SQ), potentially interesting long term investments. AFRM and SQ are currently trading down 73% and 57%, respectively, in the past three months.
