JPMorgan Sees Less Room for Concentrated Selling as U.S. Retail Buys Tech Stocks

U.S. retail investors bought more individual technology stocks in the week through Oct. 21, while JPMorgan strategist Nikolaos Panigirtzoglou and his team said reduced hedge-fund exposure may limit further concentrated selling. JPMorgan strategist Arun Jain tracked flows from Oct. 15-21 and found that retail buyers increased purchases of semiconductor, cloud and storage companies. SanDisk, Taiwan Semiconductor Manufacturing Co. and Nebius were among the most-purchased stocks. Retail purchases of individual technology stocks reached their highest level since momentum trades reversed in July. Technology exchange-traded funds (ETFs) saw their second-largest weekly inflow on record, including a record single-day inflow on Oct. 16.

Source: TokenPost