AFRM - 2 Nasdaq Growth Stocks Taking Big Hits Wednesday
Investors in the Nasdaq Composite (NASDAQINDEX: ^IXIC) have had to deal with disappointment for much of 2022. Bear market pressures continued to weigh on the index Wednesday morning, with the Nasdaq opening lower by about 1%.
Growth stocks have been a thorn in the Nasdaq's side in terms of performance this year, with many seeing much more substantial declines than the overall index. That trend continued on Wednesday, with both Affirm Holdings (NASDAQ: AFRM) and CarGurus (NASDAQ: CARG) seeing dramatic losses after their most recent financial reports. Below, you can learn more about what these two companies said and why shareholders seem increasingly spooked about their longer-term prospects.
Shares of Affirm Holdings were down 13% in premarket trading on Wednesday morning. The buy now, pay later specialist announced fiscal first-quarter results for the period ending Sept. 30, and shareholders showed their concern about the company's future prospects even though the numbers looked reasonably solid.
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2 Nasdaq Growth Stocks Taking Big Hits Wednesday