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Hedge Fund Sentiment Turns Sour On Market's Darlings, HazelTree Data Indicates

Benzinga ·  08/10/2023 01:23

Hedge funds are raising eyebrows by taking a bearish stance on some of the hottest sectors, namely electric vehicles (EVs), luxe brands and AI tech.What Happened: Insights from HazelTree, known for offering treasury services to the big institutional players, show that top hedge funds are prepping for potential declines, shorting 2023's market darlings.Top Shorts In Focus: Names like EV giant Tesla Inc (NASDAQ:TSLA); luxury mogul Kering (OTC:PPRUY), owner of Gucci; and chip powerhouse from Japan, Advantest Corp (OTC:ATEYY), topped the list for being heavily shorted in their respective regions last month, according to Bloomberg.How

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