Earlier this month, Finbold released an article about ‘The GPT Portfolio’ – a group of investors who are managing a $50,000 portfolio of stocks based entirely on OpenAI’s ChatGPT suggestions.
At the time, The GPT Portfolio was up nearly 9%, taking its total value to more than $54,000.
Since then, this AI-powered stock portfolio lost a significant amount of those gains and was up just 1.9% at $50,946, according to the latest week-end update released on August 12.
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The tepid weekly performance comes due to the “rough last two weeks,” The GPT Portfolio noted on Twitter.
Why did The GPT Portfolio lose gains?
Notably, The GPT Portfolio’s earlier gains were wiped as a result of heavy weekly losses in some of its holdings.
Specifically, Roku (NASDAQ: ROKU), T Rowe Price Group (NASDAQ: TROW), and chipmaker Micron Technology (NASDAQ: MU) plummeted 16%, 12%, and 11% last week, respectively.
On a positive note, some stocks within The GPT Portfolio still recorded significant gains, most notably ChampionX Corp. (NASDAQ: CHX) and CME Group (NASDAQ: CME), which rose 5% and 8%, respectively.
Since its inception in mid-May, this ChatGPT-based stock portfolio climbed 1.9%, underperforming the S&P 500 ETF Trust, which surged around 7.8% during that period.
Other stocks’ performance
Apart from the aforementioned, other significant holdings of The GPT Portfolio include McDonald’s (NYSE: MCD), Chart Industries (NYSE: GTLS), and Microsoft (NASDAQ: MSFT). The GPT Portfolio allocated 10% to each of these stocks.
On the weekly chart, MCD fell around 1.3%, while GTLS and MSFT lost 1.86% and 3.28%, respectively.
The portfolio also holds notable positions in Nvidia (NASDAQ: NVDA) and Albemarle Corp. (NYSE: ALB), which plummeted 9.19% and 6.67% last week.
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