Nas100

Nas has to recover market structure demands thatRetail investors bought a lot less than they typically would," Vanda's Ben Onatibia and Giacomo Pierantoni said about Tuesday's session.

"This could be the first sign that retail fatigue or capitulation is setting in, at least in the tech space."

Vanda's research note comes as enthusiasm around so-called "meme stocks" also appears to be fading, a year on from the GameStop Corp GME.N frenzy when retail investors coordinated on online message boards