Shares of top growth names MercadoLibre (NASDAQ: MELI) , Sea Limited (NYSE: SE) , and The Trade Desk (NASDAQ: TTD) were up strongly this week. All three were up double digits at one point but finished Thursday up 8%, 6.1%, and 12.2%, respectively, for the week.
There wasn't any material news from any of these companies this week. It's likely that each growth stock surged due to easing fears over inflation and higher rates -- or at least the recognition by some that the valuation effects of higher rates had been priced in.
While January inflation numbers just came in higher than expected, a lot of inflation and interest-rate fears had already been rapidly priced in during November's and January's tech sell-offs. So this week's price action in high-growth stocks was likely a relief rally.
For further details see:
Why MercadoLibre, Sea Limited, and The Trade Desk Surged This Week