Business
High-flying ASX tech shares could fall another 90%: fundie – The Motley Fool Australia
Here’s a dire warning from a veteran investor for all those who bought shares last year like Afterpay, Tesla and Zoom.
After a huge 2020, growth shares have had a bit of a rest this year.
Technology, specifically, led the way in massive market gains in 2020 after the March COVID-19 trough. The S&P ASX All Technology Index (ASX: XTX) gained a whopping 125% from 20 March to the end of the year.
But this year has been a different story, with growth and tech shares falling out of favour.
The ASX All Tech index remains flat, increasing just 0.9% since New Year’s Day.
The rotation to value stocks has been triggered by…
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