Website speed has now become a ranking factor in Google, i.e., Google has been giving fast-loading web pages preferential placement in its search results. The search giant will start giving preference to pages built with its fast-loading technology known as Accelerated Mobile Pages, or AMP.
A fast website means good user experience and an engaging UX leads to higher conversions. Very slow websites are bad user experiences and therefore, a negative ranking factor. Hence, very slow websites are negatively impacted by Google.