Investments

Market legend Art Cashin says the hype over tech stocks will end once economy adapts to a new normal

Art Cashin

(This story is for CNBC Pro subscribers only.)

Technology stocks have powered the historic market rebound as investors piled into the group for its insulation from the pandemic, but UBS director of floor operations Art Cashin said his decades of experience tell him the leadership won't last forever.

"The technology group is disproportional in its value. Is it a distortion? Yes it is. When will it stop? It's difficult to say but I can only tell you, having been on the floor for 60 years or so, it will stop," Cashin said on Thursday during the latest installment of the live PRO Talk series with CNBC's Bob Pisani. "It always has in the past. Like the energy stocks, financials. You can go back 100 years and find different group that went through this."

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close