After a stellar run in the last few years, growth stocks have lost significant momentum since mid-2021. Wall Street remains worried about macroeconomic factors that include interest rate hikes, higher commodity prices, supply chain disruptions, geopolitical tensions, and inflation, resulting in an equity market that is under the pump.
These macro catalysts led to a sell-off in growth stocks over the last six months. For example, fintech stocks such as PayPal (PYPL) and Paysafe (PSFE) are currently trading 72% and 85% below all-time highs, respectively.
