Tech stocks have fallen out of favor amid the current macroeconomic and geopolitical turmoil, so it doesn't come as a surprise that an AI-powered exchange-traded fund, popular for its bets on EV leader Tesla, Inc. (NASDAQ:TSLA), has opted to liquidate out of high-profile chipmakers in March.
AMOM Hits Exit Button On Chip Giants: The QRAFT AI-Enhanced U.S. Large Cap Momentum ETF (NYSE:AMOM) sold its entire stake in two high-profile chip names — GPU chipmaker Nvidia Corporation (NASDAQ:NVDA) and Qualcomm, Inc. (NASDAQ:QCOM), monthly disclosure by Qraft Technologies, the sponsor of the ETF showed.
