Goldman Sachs: Due to the resurgence of the meme stock craze, clients are starting to short unprofitable technology stocks

According to a report by Golden Finance, Bloomberg revealed that Goldman Sachs Group Inc. stated that as the craze for meme stocks resurfaces and triggers a frenzy of small cap gains, its clients are more "willing" to short stocks of unprofitable tech companies. After soaring by about 70% from the low point in mid April, a basket of unprofitable technology stocks tracked by the bank has fallen in the past two days, falling more than 3%. Faris Mourad, Vice President of Goldman Sachs' US Custom Basket Team, wrote in a report to clients: "Almost all communication with clients this week revolved around one question: when to reverse operations on the most speculative sectors in the market, such as loss making technology stocks, and there will be more movements later this week. We have noticed that clients are now willing to short at the current price