Big investors don't like tech too much right now. Data compiled by Bank of America shows hedge funds and other large investors are dumping tech stocks at the fastest pace since July 2023. Specifically, the bank looked at net buying and selling activity within the sector on a weekly basis as a percentage of market capitalization. BofA added that net technology single stock sales topped $5 billion last week, by far the S & P 500 sector with the most selling. Those sales have been reflected in the broader market's recent moves. The S & P 500 fell more than 1% on Tuesday even after Palantir Technologies reported better-than-expected quarterly results. Analysts and investors alike noted the company's lofty valuation is hard to digest, even after the strong report. .SPX 5D mountain SPX 5-day cha
Hedge funds are dumping tech stocks at the fastest pace in 2 years
CNBC Stock Market2 hrs ago
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