Nvidia (NASDAQ: NVDA) stock, for instance, has lost nearly 12% of its value so far in 2022, while share prices of Ambarella (NASDAQ: AMBA) are down over 28%. NVDA data by YCharts. Some of the top growth stocks that set the market on fire in 2021 have lost their spark in the new year, thanks to the strong probability of interest rate hikes by the Federal Reserve and rising inflation.