Flows are rotating into ALGM while HESM weakens

🇺🇸 The market’s dominant flow shift favors inflows into $ALGM (Allegro MicroSystems, Inc.) while HESM continues to see significant outflows, signaling a potential rotation but not a broad-based rally. Despite 90 outflows today, inflows surpass them with 190, led by a $153M bid into ALGM, which remains the primary driver. HESM’s $12M exit underscores ongoing concern, even as other themes like ROKU and FUTU shed flows. What matters now is whether ALGM’s strength sustains and confirms support through a test of its recent bid. The flow divergence suggests traders are reallocating from hardware and media themes toward areas of relative safety or momentum. Watch for a possible pause or reversal in HESM or ROKU outflows as a cue for a more sustained shift, but the current pattern remains mostly a one-stock move.