Goldman Sachs: Hedge funds are dumping US tech stocks at a record pace

PANews July 20: Goldman Sachs’ primary brokerage business said that over the past two months, hedge funds have been trimming U.S. technology stocks at a record pace. The team led by Vincent Lin noted that in the past eight weeks, hedge funds were net sellers in six weeks for the technology sector. The total value of positions fell by about 10% cumulatively, the largest scale de-risking from the technology sector since the data series began tracking more than ten years ago. The team wrote in its report: “Against the backdrop of continued sharp volatility and significant declines in semiconductors, memory chips, and AI infrastructure, sustained and large-scale selling since early June indicates that technology investors are substantially cutting long positions and that some surrender-style selling has begun to emerge.”