While the main indexes all posted healthy growth over 2021, the year marked a reversal of fortunes for many stocks which flourished during 2020. The digital payment segment is a good example as the sector found the past 12 months far less hospitable. As e-commerce volume growth spiked during the start of the pandemic in 2020, so did the valuations of many payment technology stocks. Yet, with the waning of economic stimulus, industry volume growth challenged by supply chain constraints, and the reopening changing consumers’ spending behavior, the segment came under pressure in 2021 with many names taking a hit.
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