Hedge funds sold out of the biggest U.S. tech stocks, and some even added bearish positions, according to data from a JPMorgan note late Thursday, just before SpaceX was set to go public on Friday.
Shares in the "Magnificent Seven" -- a group that includes some of the biggest tech names on Wall Street, namely Nvidia, Apple, Amazon. com, Alphabet, Meta, Tesla, and Microsoft, have all declined since last Friday.
