Goldman Sachs: Perhaps due to the comeback of the meme stock boom, customers began to short unprofitable technology stocks

Goldman Sachs says its clients are more "willing" to short unprofitable tech stocks as the meme boom returns and sets off a wave of small-cap gains, according to Bloomberg. The basket of unprofitable tech stocks tracked by the bank has fallen more than 3 per cent in the past two days, after surging about 70 per cent from lows in mid-April. "Almost all of the communication with clients this week has revolved around the question of when to reverse course on the most speculative sectors of the market, such as lossmaking tech stocks, and more action later this week, with clients now noticing a willingness to short at current prices," Faris Mourad, vice-president of Goldman's custom basket team in the US, wrote in a note to clients.