Retail Investors Starting To Rotate Away From AI Stocks As Institutions Wait For Right Moment To Short

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by Tyler Durden
Wednesday, Jul 12, 2023 - 09:20 PM

In his latest weekly market commentary, Goldman trader Bobby Molavi dedicated an obligatory paragraph to AI, because - as he put it well - "not a week can go past without mentioning it…but the headlines seem to be slowing…and the focus on AI winners/losers seems to be normalizing." It's not just the headlines that are slowing, so is the lifeblood of the craze: traffic.

As we reported last week, Similarweb data showed ChatGPT's website traffic slid 9.7% from May to June, the first traffic decline at the revolutionary AI portal since it burst on the scene last November.