Hedge funds offloading tech stocks rapidly, Goldman Sachs reports record June sell-off.

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https://twitter.com/MFHoz/status/1806322717836132429

According to Goldman Sachs Group Inc., hedge funds have been aggressively selling tech stocks this month. In fact, this month’s net selling in the US tech sector is on track to be the largest on record since 2017. The stocks most offloaded by hedge funds include semiconductor and semiconductor equipment stocks, followed by software and internet stocks. Notably, Nvidia shares have been volatile after losing $430 billion in market value recently. Despite this trend, it’s interesting to note that tech-related funds saw record inflows last week, with the tech-heavy Nasdaq 100 index hitting its latest record high on June 18.

https://finance.yahoo.com/news/hedge-funds-sell-tech-stocks-095749442.html
https://www.morningstar.com/news/marketwatch/20240627381/hedge-funds-are-dumping-tech-stocks-despite-their-recent-rally-says-goldman-sachs

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