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Throughout 2022, #fintech 💵 stocks have significantly come down to levels many were unprepared for. It’s no secret that 2022 has been absolutely rough for these companies, as shown in the chart. Affirm $AFRM has witnessed the most extensive valuation slash, down over 70% since just the beginning of 2022. One of the main driving forces behind the sell-offs 📉 in these companies is #macroeconomic issues, more specifically, the rise in borrowing rates. Inflation has surged to levels the world hasn’t witnessed in decades, causing the Fed to become much more hawkish. Initially labeled as “transitory” inflation, many investors have realized that this is a rather loose term, although the Fed has been adamant about it. Coming out of the pandemic, the Fed was forced to stimulate economic growth, which we saw in the form of stimulus checks. This undoubtedly fueled the economy; consumers spent much more, and borrowing demand was high due to favorable rates. However, it came at a steep cost, as seen in the high inflation numbers. A hawkish Fed has now sent high valuation stocks, including fintech stocks down the drain in 2022. What is your thoughts about the fintech space? *Not financial advice, always do your own research #chartingstocks #industrybreakdown #futurefocused #economy #finance
Dec 3, 2021 - Jun 3, 2022
AFRM
AFRM76.77%
PYPL
PYPL52.81%
HOOD
HOOD59.92%
UPST
UPST70.79%
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