Goldman Sachs says hedge funds are dumping U.S. tech stocks at a record-breaking pace

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Golden Finance reported that on July 21, the prime brokerage business division of Goldman Sachs Group said that over the past two months, hedge funds withdrawing from U.S. technology stocks at a pace reached a record level. The team led by Vincent Lin analyzed that during the past eight weeks, six of those weeks were net selling weeks for this sector. The total reduction in market value was about 10%, the highest since the data began being tracked more than ten years ago. “With the semiconductor/storage/AI infrastructure sector continuing to fluctuate and being heavily dumped, the persistence and scale of the sell-off since early June indicate that technology investors have significantly cut positions, and some signs of capitulation have begun to appear,” the division wrote.
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