Our theme of Ad Tech Stocks – which includes Internet platforms and ad technology players – has declined by over 18% over the last month, as the U.S. and the global economy face multiple headwinds.
Our theme of Ad Tech Stocks – which includes Internet platforms and ad technology players – has declined by over 18% over the last month, as the U.S. and the global economy face multiple headwinds. The theme also remains down by about 50% year-to-date, compared to the Nasdaq-100, which remains down by roughly 30% over the same period. The U.S. economy contracted over the last two-quarters straight and inflation has shown little signs of cooling, coming at a higher than expected 8.3% for August. The Federal Reserve is also continuing with its path of outsized rate hikes. Last week, the central bank raised its benchmark rates yet again by 0.75%, taking the Federal Funds Rate to over 3%, from just about 0.
