A Goldman Sachs Group Inc. basket of unprofitable tech stocks is up 27 per cent. EV maker Lucid Group Inc. is leading among Nasdaq 100 components with a surge of 69 per cent. Among AI stocks, C3.ai Inc. and SoundHound AI Inc. have both more than doubled, while BuzzFeed Inc. has climbed 161 per cent on a plan to use AI in content creation.Article content
Jim Smigiel, chief investment officer at SEI Investments Co., dubbed the action a “junk rally,” where the lowest-quality stocks do the best. This view is backed up by market positioning, as bearish bets on the Nasdaq 100 are building, according to Citigroup Inc.Jim Smigiel, chief investment officer, SEI Investments Co
Source: News Formal (newsformal.com)
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