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The Kobeissi Letter
@KobeissiLetter
Official X account for The Kobeissi Letter, an industry leading commentary on the global capital markets. Email us: support@thekobeissiletter.com
Joined June 2015
598 Following    2.7M Followers
BREAKING: Retail investors sold -$300 million in ETFs on Wednesday, their largest daily sale on record. This also surpasses the previous daily record of -$260 million set during the 2020 pandemic. This comes as the semiconductor ETF, $SOXX, alone recorded -$270 million in retail outflows, its largest daily retail withdrawal in at least 12 months. As a result, $SOXX posted -$695 million in total outflows last week, the largest weekly outflow since mid-August. At the same time, investors withdrew -$1.2 billion from the 3x leveraged long semiconductor ETF, $SOXL, their largest weekly withdrawal since June. Furthermore, the Momentum ETF, $MTUM, saw -$12 million in retail outflows on Wednesday, following -$30 million on Tuesday. Retail investors are locking in gains in tech.
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