It should be noted that the inflation data for March was the highest since 1982, with the monthly variation at 1.2% and the interannual variation at 8.5%. This inflationary dynamic originates from the lax monetary policy by the Fed and the financing that was given to the Treasury for the stimulus policies due to the pandemic, which generated a very high increase in the monetary base without sterilization policies. later.
Faced with this less friendly scenario, after what had been a 2021 with outstanding returns and in tune with the change in policy by the Fed, the market seems to have taken a drastic turn in 2022. Now volatility has gained much prominence in the main selections of New York.
Argentine assets: affected by the global panorama
Although the sudden fall that some Argentine companies are registering, such as Free market either Take offthe reality is that this is due to the current context that governs the markets.
So far this year, although the company chaired by Marcos Galperin has suffered a correction, we cannot fail to observe what has happened with the Nasdaq, or with other companies in the same segment. While the leading e-commerce company in Latin America registers a 40% drop in 2022, the Nasdaq, the main index that groups technology companies, reflects a negative variation of 25% and Amazon, the American peer company, reflects a drop of almost 36%.
Therefore, it is evident that the variations reflect a generalized situation as a result of multiple factors, but mainly as a result of the more aggressive monetary policy by the Fed. In this sense, there are several growth-style companies that suffered in their price . We can mention companies like Spotify, Netflix, Square either Shopify, among others, all with negative variations of between 50% and 70%.
The situation is similar for the case of Take off, where, beyond the sharp decline it is registering today, it is not exempt from difficulties typical of the sector. The Argentine flight and accommodation reservation company registers a drop of almost 11% in the price of its shares during 2022. However, this variation is lower than that reflected by other leading companies in the same sector such as Booking and Expedia, which show corrections of 17% and 30% respectively.
Research Analyst at IOL investonline
Source: Ambito
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