Magnificent 7 Stocks Lose $1 Trillion, but Their Shift Is Just Beginning: Devere CEO

The Magnificent 7’s $1 trillion loss did not end the case for technology stocks, Devere CEO Nigel Green said. He predicted a more selective market as investors demanded evidence that artificial intelligence spending was generating revenue. Nigel Green, CEO of financial advisory firm Devere Group, assessed the Magnificent 7’s loss of more than $1 trillion on Nov. 5 in comments sent to Bitcoin.com News on Nov. 6. He argued that their established businesses supported continued growth. Green stated: Looking ahead, he explained: “What’s finished is the habit of buying all seven as one trade.

Source: Bitcoin.com News