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Fundstrat’s Tom Lee expects a ‘face-ripper rally’ in April

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Tom Lee said Monday he expects the stock market’s strong start to April to continue throughout the month as part of what he’s previously dubbed a “face-ripper rally.”

The co-founder of Fundstrat Global Advisors made his case in an interview on CNBC’s “Fast Money,” following the S&P 500‘s 1.4% gain Monday to notch a record close of 4,077.91.

“Institutions raised almost $200 billion of cash since the start of the year, so they’ve turned quite cautious, and they’ve been fading or selling their tech and growth holdings but they’ve only just begun to nibble on the … epicenter [stocks],” said Lee, whose firm considers those to be companies that were among the hardest-hit in the pandemic but…



Source cnbc.com

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