Why I Sold These 3 High-Growth Tech Stocks
Rising inflation and higher interest rates have crushed many high-growth tech stocks over the past few months. The reasons are simple: Inflation reduces the value of a company's future revenue and earnings, while higher interest rates boost borrowing costs for unprofitable companies.
Like many investors, I reduced my exposure to that shift by selling some of my higher-growth tech stocks and rotating toward more conservative investments. Specifically, I took profits from my investments in Snap (NYSE: SNAP) and Palantir (NYSE: PLTR), but I took a net loss on Bumble (NASDAQ: BMBL).
Investors should do their own due diligence instead of following my example, but let me explain my logic for selling these three high-growth tech stocks.
Source Fool.com
