Retail investors sold a net $257 million in individual stocks over Thursday’s full session, Yahoo Finance reported, with Vanda ranking the outflow fifth-largest since March 2020.
CNBC’s pre-close report cited $338 million; late buying brought Vanda’s full-session tally down to $257 million, Yahoo Finance reported. The figure covers individual stocks, while some retail buying continued in leveraged funds.
Technology shares were part of a broader retreat, CNBC reported. The Nasdaq Composite entered correction territory, while the Dow Jones Industrial Average lost 1,800 points, erasing its post-midterm advance.
Vanda said individual-stock buyers did not follow their usual dip-buying pattern that Thursday, and that remaining purchases were concentrated in leveraged funds. ProShares UltraPro QQQ (TQQQ) seeks three times the Nasdaq-100’s daily performance before fees and expenses. Direxion Daily Semiconductor Bull 3X Shares (SOXL) seeks 300% of the NYSE Semiconductor Index’s daily performance before fees and expenses, the companies say.
Vanda characterized the session as one in which limited buying in individual shares coincided with forced selling.
