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My company's profits were up in 2020-21 and then we went back to the office in 2022 and our profits and stock price dropped. We had 500 openings in 2020-21 and

My company's profits were up in 2020-21 and then we went back to the office in 2022 and our profits and stock price dropped. We had 500 openings in 2020-21 and then we laid off 8% of the employees in 2023. I joke in meetings that we just need to go back home and we will make more money. I work for a fabless semiconductor company that makes chips for data centers and other applications, not a software company.

gottorf 3y ago
No argument against your company's WFH productivity! But: > 2020-21 and then we went back to the office in 2022 and our profits and stock price dropped The broad stock index rallied like crazy 2020-21 with ZIRP, then all of 2022 was a bear market that followed rate hikes. The S&P 500 rose almost 50% from January 2020 to December 2021, then lost about 20% in 2022. So it's not unreasonable that your company's stock price followed that trajectory.