(Bloomberg) It’s been a tough few months for tech stocks from social media giant Facebook Inc. to memory chipmaker Micron Technology Inc., which have been at the forefront of the U.S. stock market’s autumn rout. If history is a guide, the bloodletting probably isn’t over. Goldman Sachs identified Facebook and Micron among a list of companies that had the biggest declines in hedge fund ownership during the third quarter. Such “falling stars” have historically continued to trail the market over the next three to 12 months, strategists led by Ben Snider and David Kostin wrote in a note to clients Wednesday.
Goldman Sees More Pain for Facebook, Micron on Hedge Fund Exodus
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