A sharp divide is emerging on Wall Street. Bank of America’s strategist Michael Hartnett says that President Donald Trump‘s economic policies are lifting capital-rich tech giants rather than domestically focused small caps.
“It’s like the ’80s deregulation boom and the ’90s tech boom all at the same time,” the expert said.
Wall Street’s New Divide: “Bro Billionaires” Vs. The Trump’s “Base”
In his latest “The Flow Show,” Hartnett introduced what he calls the “bro billionaire” stock basket, an equal-weighted group including Nvidia Corp. (NASDAQ:NVDA), Meta Platforms Inc. (NASDAQ:META), Tesla Inc. (NASDAQ:TSLA), Palantir Technologies Inc. (NYSE:PLTR), Interactive Brokers Group Inc. (NASDAQ:IBKR), Bitcoin (CRYPTO: BTC), ARK Innovation …