1. Tech Funds See Redemptions as they Rally to New Highs.
From Dave Lutz at Jones Trading-That said, EPFR notes Tech fund outflows continuing to accelerate so the pain trade is a Tech Rally
Topley’s Top 10 – June 30, 2021
Topley’s Top 10 – June 29, 2021
Topley’s Top 10 – June 28, 2021
1. Record Stock Sales From Money-Losing Firms Ring the Alarm Bells
By Lu Wangand Vildana Hajric
-AMC, GameStop lead troubled companies in flooding the market
-Glut of shares provides latest evidence of elevated enthusiasm
If you think a rush by companies to sell their shares is a bad omen for the market, imagine a scenario where most of the sales come from firms that don’t make money.
It’s happening now. Since the end of March, almost 100 unprofitable companies, including GameStop Corp. and AMC Entertainment Holdings Inc., have raised money through secondary offerings, twice as many as coming from profitable firms, according to data compiled by Bloomberg.
Topley’s Top 10 – June 25, 2021
1. Pure Growth Best Month vs. Pure Value Since January 2020.
Liz Ann Schwab notes pure growth heading for its best month relative to pure value since January 2020
