BofA equities traders say buy momentum stocks

Bank of America’s trading desk is urging clients to buy US momentum stocks, betting that the group has reached an attractive price level after a bout of profit taking.

The bank’s basket of US momentum stocks ended last week down more than 10 per cent from its June 25 peak following a tumble during which investors cut exposure and systematic strategies took profits. That drop put the gauge on track for its second-worst July in a decade.

Source: https://www.afr.com/markets/equity-markets/bofa-equities-traders-say-buy-momentum-stocks-20260723-p60hqc