The Kobeissi Letter, a markets commentary publication, reported on Sunday, October 25, 2026, that the Memory ETF, $DRAM, is experiencing substantial withdrawals. The publication stated, "The Memory ETF, $DRAM, has posted -$2.0 billion in outflows so far in October, putting the fund on track for its largest monthly withdrawal since launching on April 2nd." The post further noted that this marks the third consecutive month of outflows, following -$1.6 billion in September and -$400 million in August, concluding that "The memory chip trade has seen a major pullback."
The reported outflows come amidst a broader focus on technology and semiconductor performance. While the broader market indexes like the Nasdaq and S&P 500 saw slight declines today, the memory chip sector appears to be facing specific headwinds. Recent coverage has focused on various earnings reports, including Tesla's Q3 earnings and MongoDB's strong buy rating, but the memory chip segment's performance highlights a distinct trend.
The Kobeissi Letter's report implies a cooling period for memory chip investments, despite $DRAM still being up +70% since its inception. Investors will likely watch for continued outflow trends and the performance of related tech companies, particularly those in the semiconductor industry, to gauge the sector's short-term trajectory. The significant decline of the 2x leveraged Memory ETF ($RAM) also suggests increased bearish sentiment or profit-taking in the space.
