Starting on Friday, we have seen a sudden reversal from panic-selling to panic-buying in tech stocks, which has lifted Nasdaq back above its 100DMA...
The headline-grabbing culprit for much of the pain to the downside was Software stocks(IGV as an example of an ETF that tracks the sector), which collapsed as specifically SaaS firms faced 'existential threats' from AI disruption.
That crashed Software valuations down dramatically...
And, suddenly - starting Friday morning - buyers appeared tosnap up these newly cheap stocks...
Inflows into IGV - the Software ETF - have soared...
But, the question has been -who's buying?
Well now we have the answer,thanks to Vanda Research:
1M rolling net retail inflows into the iShares Software ETF (IGV) surged to a record $176mn as of close yesterday, more than double the prior peak seen during the late-2024 software drawdown.
Source: ZeroHedge News
