Flows are rotating into FRSH while ESE weakens

🇺🇸 A clear flow reversal is underway, with fresh money flooding into the $FRSH (Freshworks Inc.) theme while ESE exits sharply. The market’s early move suggests traders are shifting away from ESE-related stocks, which saw a $21 million outflow, toward the more resilient FRSH group, which attracted a $44 million inflow. The outflow count of 153 contrasts with only 108 inflows, underscoring a cautious tone but also a potential rotation. The strongest signal comes from FRSH, confirming the shift with a significant bid. The flow spread indicates traders are prioritizing FRSH over ESE, with the top inflow leader pulling in twice the flows of the largest outflow. Next, watch whether this inflow sustains and broadens beyond the top names. A continued bid in FRSH would mark a shift in trader sentiment, but if flows fade, the move remains confined to a few stocks.