Why Perion Network Stock Fell 24% in the First Half of 2022

Shares of Perion Network (NASDAQ: PERI) were pulling back in the first half of the year, trading down with the broad market. According to data from S&P Global Market Intelligence, Perion lost 24%, compared with a 21% decline in the S&P 500.

The slide in the ad tech stock was as notable as its ability to outperform its peers in a difficult market environment as investors moved away from digital advertising stocks, including giants like Alphabet and Meta Platforms, as concerns about a recession mounted and tailwinds from the pandemic faded.

In spite of that, Perion has still delivered strong results this year and even raised guidance, which helps explain why the stock has outperformed peers like The Trade Desk and Magnite. The chart below tells the tale.

Source Fool.com