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 […]
Small-Cap Growth Commentary – December 31, 2021
The Hood River Capital team hopes this year-end commentary finds you happy and healthy as we wrap up yet another year. 2021 was marked by uncertainty and volatility for equity indices. Hood River’s U.S. Small Cap Growth strategy outperformed its benchmark for the quarter and for the full year ending December 31, 2021. The fourth […]
Small-Cap Growth Commentary – September 30, 2021
With the onset of the Delta variant, COVID once again topped headlines in the third quarter. While yet another surge in case counts was indeed a cause for concern, the total U.S. trajectory has thus far followed that seen in other countries that faced Delta. That is, while there was a rapid rise in cases, […]
Small-Cap Growth Commentary – June 30, 2021
The general tone of the market has changed somewhat since our Q1 2021 update. Following four years of growth style outperforming value, the first three months of 2021 began with a reversal of this trend and a debate over the potential for a longer-term rotation from growth into value. Indeed, the Russell 2000® Growth Index […]
Small-Cap Growth Commentary – March 31, 2021
It’s fair to say most everyone was ready to turn the page on the calendar and put 2020 in the rear view mirror. While the economy and various communities across the U.S. remain affected by Covid and the lock-downs to some extent, the gradual reopening is underway and we can see some sense of normalcy […]
