July 6 (Reuters) - Retail traders raised their exposure to U.S. stocks in June encouraged by healthy returns, with their focus shifting to electric-vehicle firms from artificial intelligence stocks earlier in the year.
They poured in $1.4 billion per day on average in U.S. equities in the month, closing in the all-time record of $1.5 billion a day in March, Vanda Research said.
Record vehicle deliveries by Tesla (TSLA.O), consistently a favorite among the retail crowd, have helped spark small-time investors' interest in EV stocks, including Rivian (RIVN.O), Iachini said.
EVs have garnered increased demand on incentives under the Inflation Reduction Act and a competitive pricing environment.
In contrast, demand for AI stocks, including C3.ai (AI.N), from retail investors has somewhat slowed from earlier this year after they rallied for weeks, Iachini added.
Persons:
Vanda, Marco Iachini, Iachini, EVs, Joby, Peter Hillerberg, Medha Singh, Shinjini Ganguli, David Gregorio Our
Organizations:
Vanda Research, Thomson
Locations:
U.S, Bengaluru