High-growth stocks with little to no earnings have been punished over the last several months amid rising inflation concerns.
Although many of the unprofitable growth names are bouncing back Friday, Sand Hill Global Advisors' Brenda Vingiello warned that investors should remain cautious.
"Affirm certainly falls into that category," Vingiello said on CNBC's "Fast Money Halftime Report."
Vingiello is practicing that which she preaches by exiting her Affirm Holdings Inc (NASDAQ:AFRM) position completely.
"We're believers that buy now, pay later will continue to gain market share and Affirm is very well positioned, has great partnerships, but we think it's just going to take time and execution for the company to really prove that this is a viable model that can take share," Vingiello said.
Although she acknowledged that she continues to believe in Affirm's business model, she sees better opportunities to deploy her capital.
See Also: Peering Into Affirm Holdings Inc. - Class A Common Stock's Recent Short Interest
She noted that she took the proceeds from the Affirm sale and bought shares of Sysco Corp (NYSE:SYY).
AFRM Price Action: Affirm has traded between $26.02 and $176.65 over a 52-week period.
The stock was up 10.2% at $40.49 Friday afternoon.
Photo: courtesy of Affirm.
