Hedge Funds Exit Tech, Media Stocks at Fastest Pace in Six Months, Goldman Sachs Says
Hedge funds exited US tech and media stocks in the two weeks to February 21 at the fastest pace in six months, according to Goldman Sachs. The surge in redemptions from these portfolios is attributed to weak earnings reports and disappointing economic data. This move reflects a significant shift in investor sentiment, as hedge funds have been betting against growth in tech stocks.
- The rapid exit of hedge funds from tech and media stocks may be a harbinger for broader market declines, as investors increasingly question the sector's fundamentals.
- How will the growing bearishness towards tech stocks impact the valuations and growth prospects of companies like Nvidia, which is set to report earnings soon?