Source: Global Market Report On Monday, the turnover of US stocks ranked first, closing up 0.75% with a turnover of $38.014 billion. Since the opening on June 10, Nvidia's stock has been trading at adjusted prices after the split. The overall value of Nvidia is not expected to change after the split, and the lower stock price will make it easier for investors to reach. In terms of product structure, the operating income of 10-30 billion yuan products is respectively 401/1288/60 million yuan.
According to Goldman Sachs analysis, hedge funds sold technology stocks on a "large scale" during Nvidia's brief moment as the world's most valuable company.
Goldman Sachs' main broker data shows that net selling of US tech stocks this month is expected to reach the largest record since 2017. The hedge funds sold the most semiconductors and semiconductor equipment stocks, followed by software and Internet stocks.
After nvidia's market cap plummeted by $430 billion last weekend, its stock price has been fluctuating. In June, it has always been a tumultuous month for large technology companies. Earlier this year, the rapid rise of nvidia, microsoft, amazon, meta platforms and apple accounted for more than half of the 15% increase in the s&p 500 index.
The sharp contrast between hedge funds reducing risk exposure and the record fund inflow in technology-related funds last week was reflected in the Nasdaq 100 index, which is dominated by technology stocks, reaching a new record high on June 18th. Technology stocks accounted for 33% of the S&P 500 index weight last week, the highest level in about 24 years.
More importantly, the momentum factor investment that drove companies like Nvidia to reach historic highs this year has been struggling. Goldman Sachs data shows that the momentum risk exposure of hedge funds is expected to decline for the first time in six months. The "long concentration" and "long crowding" have both declined significantly and are at their lowest levels this year, indicating that long-short fund managers have become more cautious about the potential retreat of these factors after receiving strong returns.
Editor/Jeffy