$PayPal(PYPL)$During the recent earnings season, tech companies have expressed increasing caution around online ad spend and signaled cost /headcount reductions, while retailer earnings have reiterated pressure on the lower end consumer (Morgan Stanley analyst wrote on Thursday)
Recession risk is now growing as well with their models suggesting a 35% chance of a recession.
2022 eCommerce growth is now forecasted at 8% from 12% previously due to "growing macro weakness along with sector specific negative signals".
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