Small-Cap Growth Commentary – June 30, 2024
The second quarter was slightly soft for US small cap growth stocks, as the Russell 2000® Growth Index (the benchmark) fell by -2.92% in the three months ending 6/30/2024, placing the index +4.44% year-to-date (“YTD”). Small cap stocks lagged the S&P 500® Index’s +4.28% and Nasdaq’s +7.82% quarterly gains, which are now up +15.29% and […]
Small-Cap Growth Commentary – March 31, 2024
The overall macro environment provided tailwinds for US equities in the first quarter of 2024 — and growth over value, in particular. The Russell 2000® Growth Index (the benchmark) rose +7.58% for the first three months of 2024, in comparison to the value counterpart’s +2.90% gain. Hood River’s US Small Cap strategy rose +14.23% (net […]
Small-Cap Growth Commentary – December 31, 2023
The fourth quarter of 2023 was a wild ride for US small caps, as the Russell 2000® Growth Index (the benchmark) hit both its annual nadir and peak during the final three months of the year. The benchmark hit its 2023 low of 1,037 on 10/27/23 before rallying to nearly 1,310 on 12/27/2023. Non-coincidentally, US […]
Small-Cap Growth Commentary – September 30, 2023
The third quarter of 2023 was rough for equities — US Small Caps were particularly impacted as the Russell 2000® Growth Index (the benchmark) fell by -7.32% compared to the S&P 500 Index’s -3.27% decline. July began on a positive note, with the benchmark rising +4.68%; but August’s -5.21% and September’s -6.60% declines put the […]
Small-Cap Growth Commentary – June 30, 2023
Investors had faced a wall of worry in 2022 as companies attempted to navigate inflationary pressures, rising interest rates, and a potential slowdown in the economy. We believe investors discounted these factors into small cap stock prices in 2022, and additional downside macro risks are largely offset by attractive stock valuations. We continue to get […]
Small-Cap Growth Commentary – March 31, 2023
While larger-cap equity indices closed out March higher than their February-end levels, the collapse of Silicon Valley Bank and Signature Bank disproportionately impacted smaller-cap indices. Broader implications in the regional bank sector appear to be contained for now, but some damage was certainly felt in the Russell 2000® Growth Index, which fell 2.47% during March. […]
Small-Cap Growth Commentary – December 31, 2022
We hope everyone had a happy and healthy holiday season. 2022 was certainly a rough year for equities, and for small-cap growth stocks in particular. While a majority of the decline in the Russell 2000® Growth Index (our benchmark) was seen in the first half of the year, the second half ended up approximately where […]
Small-Cap Growth Commentary – September 30, 2022
Following a tumultuous first half of 2022, our benchmark, the Russell 2000® Growth Index appreciated +0.24% in the third quarter. While the index was essentially flat for the quarter, it doesn’t even begin to tell the whole story. Optimism prevailed in the first half of the quarter and the Russell 2000 Growth appreciated +20.21%, making […]
Small-Cap Growth Commentary – June 30, 2022
It’s difficult to overstate the challenges the markets have faced thus far in 2022. Concerns over inflation, a slowing/stalling economy, and the Fed’s rate hike cycle have persisted for some time now but came to a head in the second quarter, particularly in the final month of the quarter. Not only did the June selloff […]
Small-Cap Growth Commentary – March 31, 2022
The volatility across equity markets seen in late 2021 continued into the first quarter of 2022, which had a rocky start. Concerns over Covid’s impact on the economy ebbed throughout the quarter but were quickly replaced by persistent and rising inflation, a Fed rate hike cycle, continued supply chain issues, and most recently the war […]
