Baba Stock – Here are the US shares ASX investors have been buying
The Commonwealth Bank of Australia (ASX: C(BA)) CommSec brokering platform tells us the ASX and international shares (almost always just US shares) that are the most popular with its Australian customers most weeks.
CommSec is one of the most popular share trading platforms for ASX investors. As a result, the data it gives us can be an interesting insight into the investing habits of the typical Aussie investor.
Yesterday, we looked at the most popular ASX shares last week. So here are the top 10 international shares CommSec users were buying last week. This week’s data covers 22-26 March.
GameStop shares among most traded US shares on the ASX
- Tesla Inc (NASDAQ: (TSLA)) – representing 5.6% of total trades with an 85%/15% buy-to-sell ratio.
- GameStop Corp ((NYSE: GM)E) – representing 4% of total trades with a 79%/21% buy-to-sell ratio.
- Apple Inc (NASDAQ: AAPL) – representing 2.5% of total trades with an 77%/23% buy-to-sell ratio.
- Nio Inc (NYSE: NIO) – representing 2.5% of total trades with a 74%/26% buy-to-sell ratio.
- Palantir Technologies Inc (NYSE: PLTR) – representing 2.2% of total trades with an 88%/12% buy-to-sell ratio
- AMC Entertainment Holdings Inc (NYSE: AMC)
- ARK Innovation ETF (NYSE: ARKK)
- Microsoft Corporation (NASDAQ: (MSFT))
- Alibaba Group Holding Limited (NYSE: (BA)(BA))
What can we learn from these trades?
We see a very familiar pattern with these shares. Once again, it’s Elon Musk’s company Tesla that takes out the top spot for last week. Tesla shares have had a very rocky start to 2021 and remain down 12.9% year to date, including down 11.5% over the past month. Yet many ASX investors are clearly seeing this weakness as a buying opportunity, given 85% of trades were buys. Tesla’s China-based rival Nio is also proving stubbornly popular, despite Nio shares falling more than 40% since 9 February.
The ultimate speculative company in GameStop is also continuing to prove its endurance. This company continues to show wild volatility that ASX investors are clearly trying to cash in on. GME shares are up 61.6% since 24 March, including a 7.4% bump last night.
Data company Palantir continues to be a presence in the top 5. Palantir has been hit hard in the tech sell off over in the US in recent months. This company’s share price is also down around 42% since early February, but 88% of Palantir’s traders are clearly viewing this as a buying opportunity.
We also see blue-chip tech companies like Apple, Microsoft and China’s Alibaba continuing to attract Aussie attention, despite being far more stable in price than most of the other shares on this list.
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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Fintech Zoom’s board of directors. Sebastian Bowen owns shares of Tesla. The Fintech Zoom Australia’s parent company Fintech Zoom Holdings Inc. owns shares of and recommends Alibaba Group Holding Ltd., Apple, Microsoft, NIO Inc., and Tesla. The Fintech Zoom Australia’s parent company Fintech Zoom Holdings Inc. owns shares of Palantir Technologies Inc and recommends the following options: short March 2023 $130 calls on Apple and long March 2023 $120 calls on Apple. The Fintech Zoom Australia has recommended Apple. The Fintech Zoom has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.