Magnificent 7 as Absolute Loss Leaders

Magnificent & AI selling

The Magnificent 7 and AI Beneficiaries within the broader TMT universe have not had an easy time lately. Morgan Stanley Prime Brokerage desk reports:

"...the Magnificent 7 alone accounted for >60% of the total notional amount of what was sold over the past 3 trading sessions, causing net exposure to the group to fall to a near 2-year low." (MS PB)