A rapid sell-off in the high-flying momentum trade is wrecking the strategy’s staunchest bulls: Retail traders.
A basket of 50 stocks favoured by amateur investors, which includes names like Robinhood Markets and Marvell Technology, has plunged 13 per cent so far in July and is on track for the worst month since 2022. A Jefferies basket of Russell 1000 firms with the highest retail participation has lost more than a quarter of its value since June.
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Bloomberg