Business

JPMorgan loaded up on Apple stock then it tanked 15%

Investing titans Fidelity, Janus Henderson, and JPMorgan loaded up on Apple stock then it tanked 15%
 unfortunate trader Reuters/ Marcos Brindicci

.Significant funds Fidelity, Janus Henderson, JPMorgan, Tiger Global Management and Coatue, put bets on Apple prior to October’s 15% decrease.Burned by “Red October” market bloodbath, hedge funds have actually had their worst month given that May 2010.Tech particularly saw an enormous sell in October. A study discovered funds are least bullish on tech stocks because the monetary crisis.

Hedge fund Goliaths made some significant wrong-way bullish bets on Apple, prior to the stock crashed.

The so called “Red October” markets bloodbath made it a currently ruthless month for financiers of all stripes. Slowing iPhone sales and provider cautions stacked on Apple particularly, turning those funds’ bets into losers. Apple fell more than 15% last month and is down about 20% from its all-time high.

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