Recession-feared investors continue to cut the fastest-growing cloud stocks

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Recession-feared investors continue to cut the fastest-growing cloud stocks

Nima Ghamsari, Blend Co-Founder and Chief Executive Officer, speaks at the Sooner Than You Think conference on October 16, 2018 in New York.

Alex Flynn | Bloomberg | Getty Images

Tech investors finally got some relief last week as the Nasdaq broke a seven-week losing streak, the worst since the dot-com bust of 2001.

With five months on the books, 2022 has been a dark year for tech so far. Nobody knows this better than investors in cloud computing companies, which have been darlings of the last five years, especially during the homestay days of the pandemic.

Paradoxically, growth remains resilient and businesses are benefiting as economies reopen, but investors are still selling.

Bill.com, mixing laboratories and SentinelOne all doubling their sales year over year by 179%, 124% and 120% respectively. Still, the trio is worth about half of what it was at the end of 2021. The market has taken a sledgehammer to the entire basket.

Byron Deeter of Bessemer Ventures…

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