Puru Saxena: AI stocks post sharp gains as market top risks rise

Puru Saxena: AI stocks post sharp gains as market top risks rise
AI stocks rally as top risk grows

Puru Saxena, investment commentator and ex-fund manager at FinTwit, reports that AI stocks have soared 100-200% since the March low.

Saxena states that an algorithm he follows now points to a roughly 90% probability of a market top. He plans to lock in additional gains, raise cash, and buy puts over the coming weeks.

Earlier this year, Saxena sold 40 percent of an AI stock position after realizing a 103 percent gain and said he planned to raise additional cash in May. More recently, he viewed quality software stocks as attractively priced while semiconductor shares paused following strong gains in June. Saxena continues to circulate his market outlook to followers on social media.

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