TSLA - Retail Traders Ditch Tesla Apple Google For Pharma Stocks Like Ozempic-Maker Novo Nordisk And Eli Lilly: JPMorgan | Benzinga
Retail traders have been observed to be selling off their shares in the ‘Magnificent Seven’ tech stocks, with a noticeable shift towards pharmaceutical stocks, according to a recent report by JPMorgan.
What Happened: Retail traders have been net sellers of the majority of the ‘Magnificent Seven’ stocks, with a focus on pharmaceuticals like Eli Lilly And Co (NYSE:LLY), JPMorgan analysts noted in a report on Wednesday, as reported by Business Insider.
Over the past week, individual traders have sold off $1.4 billion worth of individual stocks, including major players like Tesla Inc (NASDAQ:TSLA), Apple Inc (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), and Microsoft Corp (NASDAQ:MSFT).
However, NVIDIA Corp (NASDAQ:NVDA) remains a popular choice among retail traders, but there has been a noticeable shift towards big pharma players such as Eli Lilly, Pfizer Inc (NYSE:PFE), and Ozempic maker Novo Nordisk (NYSE:NVO).
See Also: This Long-Time Dogecoin Bull Made ...