Why Shares of Axcelis Technologies Fell 16% in January
Shares of Axcelis Technologies (NASDAQ: ACLS) took a 16% tumble last month, according to data provided by S&P Global Market Intelligence. Growth stocks took a serious breather to kick off 2022 after the Federal Reserve indicated it would be raising interest rates to try to tame inflation. Higher rates lower the present value of a stock, with high-growth companies the most sensitive to this effect.
Thus Axcelis, which provides important equipment for the chip manufacturing industry, was dragged down by market forces last month.
Image source: Getty Images.
Source Fool.com
