Health Catalyst and Paycom shares fell in afternoon trading as investors rotated out of high-multiple growth names. Health Catalyst dropped 3.6% and Paycom declined 3.5%, pressured by a hotter-than-expected May import price report that showed a 1.9% monthly rise versus a 1.1% forecast and an annual gain of 6.7%, the largest since August 2022. The data complicated the view that the Iran peace deal had resolved inflation concerns, and investors positioned cautiously ahead of new Federal Reserve Chairman Kevin Warsh's first meeting later in the week. Additional pressure came from the Bank of America fund manager survey, where 28% of respondents cited an AI bubble as the second-largest tail risk, and from SpaceX's announcement that it is acquiring AI coding platform Cursor for $60 billion, signaling consolidation of valuable AI software assets. Health Catalyst is down 23% year-to-date and trades at $1.76 per share, 57.1% below its 52-week high of $4.09 from July 2025.
Health Catalyst IncHotter-than-expected import price data and cautious positioning ahead of Fed meeting pressure high-multiple growth stocks like Health Catalyst.
Paycom Software, Inc.Hotter-than-expected import price data and cautious positioning ahead of Fed meeting pressure high-multiple growth stocks like Paycom.