Institutional investors likely playing the meme momentum - Vanda Research

Vinco Ventures

08/09/2021 12:39

** Retail investors net sold AMC  AMC.N  on Tuesday for the
first time since February, suggesting institutional investors
were responsible for the 8% rally in the stock, Vanda Research
analysts said
    ** Option trades with large sizes (50+) have exceeded small
trades (<10) this week, an extremely rare occurrence over the
past year - Vanda analysts Ben Onatibia and Giacomo Pierantoni 
    ** This data corroborates the view that retail investors are
not driving the rally in speculative stocks and that it is the
work of professional investors who are trying to anticipate
retail behavior, analysts said
    ** China tech ADRs remained the hottest retail buys over
last week, analysts added; Invesco Golden Dragon China ETF
 PGJ.O  has risen about 5% so far this month, after dropping 23%
in July and August over regulator concerns
    ** Meanwhile, overnight data showed individual investors
were large dip buyers of crypto stocks after Bitcoin suffered
its worst day in 2-1/2 months as El Salvador's historic adoption
of the crypto asset as legal tender caused chaos online and on
the street  urn:newsml:reuters.com:*:nL1N2QA0BM
    

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))