Shares of U.S. stocks plunged in after-hours trading Thursday after the Morgan Stanley robin hound fund revealed it had found that investors are less confident in the future prospects of the technology industry.
Investors have been worried about technology companies, which have faced a wave of new regulations in recent years and which have not been able to stay afloat in recent quarters due to new regulations.
Robinhood, a hedge fund focused on the U.K.-based Internet and telecommunications services company Netmarble, said in a statement that it had raised $1 billion in new funding and that it was currently evaluating the results of its review.
The fund is one of several investment funds that have raised money in recent weeks and investors were already concerned about the economy.
In a statement on Thursday, the fund said it “welcomed the news that the robo-advisors Morgan Stanley and Cambridge Analytica are considering a return to investing in U.k.-based technology firms, and we expect a positive response.”
The fund’s investment manager is Matthew Loeser, who joined the fund in December and was formerly the chief investment officer at UBS AG.
Loeser previously worked at Barclays Plc and has served as the chief financial officer of the hedge fund Vanguard Group.
The robo investment firm had raised an undisclosed amount from investors in January, with Loesers predecessor, Brian Johnson, investing in the fund.
Johnson, who was also an investor in the robobank, left the fund on Wednesday to run his own hedge fund, BlackRock Inc. Johnson previously served as chief investment Officer of the tech firm Zynga Inc.
Lets hope he returns to robo investing soon.
Robinson Hood investing review.
The fund was founded in 2010 by the hedge funds and tech firms Morgan Stanley & Cambridge Analyts.
The firm’s findings echo previous research, which has found that the tech industry is facing significant pressure from regulatory changes and investors are looking to cash out as soon as possible.
Robinshoot said in its report that “we have been seeing a surge in investor sentiment in recent months that has been more negative than positive, and has shown investors are increasingly less confident than ever in the outlook for the tech sector.”
Investors are not looking to take their investments with them when they leave the market, and they don’t have the money to buy the stocks that are up.
Investment managers at Morgan Stanley are now looking to sell their stocks, as they do with other sectors of the U .