01/07/2022
Hedge funds are bailing on tech stocks. Is the beginning of a bear market for tech stocks or still moon?
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📈 The recent surge in bond yields have triggered the largest dump of growth tech stocks by hedge funds in a decade.
Over the span of the four trading sessions between December 30th and Tuesday, hedge funds took part in the biggest sale in terms of dollar amount in more than 10 years, reaching a record since Goldman Sachs’ prime brokerage started tracking the data.
The surge in the 10-year treasury yield spooked investors from these high-growth assets as they are often the worst hit in a high rate environment.