Flows are rotating into QXO while ALGM weakens

🇺🇸 Equities are seeing a clear shift toward stock-specific activity, with inflows into $QXO (QXO, Inc.) and outflows from ALGM dominating the flow picture. The market’s focus is narrowing, as 97 outflows outpace 164 inflows, with the largest exit hitting $36M from ALGM. Meanwhile, QXO leads with a $12M inflow, signaling selective buyer interest amid broad caution. This divergence suggests traders are increasingly betting on themes with clearer catalysts while trimming exposure to more uncertain names like ALGM. The key next step is to watch whether inflows into QXO hold steady and if the ALGM outflows confirm a sustained rotation away from the theme. A stable bid for QXO could hint at a more concentrated rally, but persistent outflows from ALGM warn of ongoing risk aversion in the broader market.