Hedge fund GCQ says the Citrini incident marks a bottom for software stocks; the sell-off is illogical and they have bought in during the pullback.
Show original
Glonghui, February 26|Sydney-based hedge fund GCQ Funds Management stated that the sell-off in software stocks has bottomed out, and it has taken advantage of the pullback to buy about AUD 200 million (USD 143 million) worth of technology stocks. The fund sold some of its best-performing stocks, including shares of European luxury goods companies, to shift its focus to heavily hit software stocks. Chief Investment Officer Doug Tynan said that in recent weeks, the fund has mainly bought Microsoft, accounting software company Intuit Inc, and industry giant SAP SE. Recently, technology companies have been caught up in the so-called "AI panic trading." After a series of new moves by some startups, including Anthropic PBC, the market has once again raised doubts about the short-term prospects of the sector. Earlier this week, little-known Citrini Research outlined in a blog post a scenario where rapid AI progress could bring about dramatic shocks, further raising concerns about the vulnerability of the software industry in the face of rapid AI development and deepening the decline.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!
You may also like
Goldman Sachs raises Dell's target price to $180
格隆汇•2026/03/02 08:55
Citi significantly lowers Duolingo's target price to $101
格隆汇•2026/03/02 08:51
Trending news
MoreCrypto prices
MoreBitcoin
BTC
$66,218.65
-0.47%
Ethereum
ETH
$1,946.8
-1.90%
Tether USDt
USDT
$0.9999
-0.05%
BNB
BNB
$618.06
-0.58%
XRP
XRP
$1.35
-2.40%
USDC
USDC
$1.0000
-0.00%
Solana
SOL
$83.4
-2.22%
TRON
TRX
$0.2814
-0.08%
Dogecoin
DOGE
$0.09227
-1.48%
Cardano
ADA
$0.2720
-2.68%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now