What about profit?

Chief Investment Strategist for IG Wealth Management, Philip Petursson, says, when interest rates were extremely low, profitless tech companies (the “high flyers” of the COVID-19-era) could finance themselves very cheaply, so their lack of profit generation was not a problem. Now, however, with rising interest rates and a slowing economy, profitable companies are massively outperforming these former high flyers.