Tech Sell Off News Today

Nasdaq correction: Is tech sell-off an opportunity?

Star stockpicker Terry Smith received a record £36m payout last year despite a turbulent year.

Private equity has been posting stellar results in recent years, with the booming growth in the tech sector a key plank in that performance for many firms. But tech’s woeful start to 2022, which has seen the Nasdaq index plunge 28% into a bear market, LPs are starting to review their portfolios and look for a more balanced risk-growth adjustment.

In four months, hedge fund Tiger Global has wiped out around two-thirds of its cumulative gains since 2001.

"[We're] in the middle of a long deleveraging cycle that's going to continue to be painful," said investor Mike Ghaffary during Thursday's stock rout.

Had ARK retained the Twitter stake it held at the end of 2021, it would now be worth over $700 million, versus its current holdings' $62 million.

Monday's rally in technology stocks pushed up the net worth of the world's 10 richest people by more than $44 billion, according to Bloomberg data.

"We believe an attractive entry point has emerged for Tesla," Credit Suisse analysts Dan Levy and Trevor Young said Monday.

Ackman and Wood's purchases reflect that many in the market think the sell-off in big-name technology stocks has gone too far.

Amid global sell-off, the shares of Nykaa (listed as FSN E-Commerce Ventures Limited) crashed 13 per cent to hit an all-time low of Rs 1740.05 on BSE.