Amazon is only down less than one per cent
That’s not uncommon for a young company that’s growing, of course. But therein lies the problem for the stock: Software providers with rich valuations are one of the market’s most out-of-favor groups. It’s a combination of a retreat from high-valuation stocks because of rising interest rates, skittishness about companies that aren’t very profitable, and slowing growth rates after the pandemic pulled forward demand for some tech services.
The Nasdaq 100 Index has closed higher or lower by at least one per cent on 73 per cent of trading days in 2022, which would be the highest percentage in two decades if the trend were to continue for the remainder of the year.Article contentChinese stocks listed in the U.S. rallied on Beijing’s plans to modify restrictions on the data that overseas-listed companies are allowed to share with foreign regulators, easing concerns that these companies could be kicked off American exchanges.
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