Where to from here?, page-50

An article in today's AFR from the Financial Times: "Netflix ills just the start as consumers tighten their belts" might put the CCX s.p. dive into context.
It refers to the London-base online clothing retailer Asos this month reporting a sharp fall in sales and profits and warning that pressure on incomes might outweigh the boost from the loosening of Covid restrictions. Its shares are down almost 40 percent since the start of the year. The Asos CEO is particularly concerned with food and energy price inflation.
The article noted that H&M last month also reported a sudden slowdown in sales growth, while spending on apparel had fallen below 2019 levels in the UK.

CCX might be cushioned to some extent by America. But maybe not, given the US inflation rate and the Fed's sudden resolve to knock it on the head. Should have sold more at $6.40 !!