Most weeks, Commonwealth Bank of Australia‘s (ASX: CBA) CommSec brokering platform tells us both the ASX and US shares that are the most popular with its Aussie customers.
Since CommSec is amongst the most popular brokers in the country, this information gives us a useful insight into what the average ASX investor is looking at overseas.
My Fool colleague James Mickloboro already looked at the most popular ASX shares last week yesterday. So here are the top 10 US shares that investors on CommSec were buying and selling last week. This week’s data covers 12-16 April.
Coinbase shares among most traded US shares on the ASX
- Coinbase Global Inc (NASDAQ: COIN) – representing 9.3% of total trades with a 98%/2% buy-to-sell ratio.
- Tesla Inc (NASDAQ: TSLA) – representing 4.9% of total trades with a 72%/28% buy-to-sell ratio.
- GameStop Corp. (NYSE: GME) – representing 2.9% of total trades with an 84%/16% buy-to-sell ratio.
- Apple Inc (NASDAQ: AAPL) – representing 2.3% of total trades with a 65%/35% buy-to-sell ratio.
- Palantir Technologies Inc (NYSE: PLTR) – representing 2.1% of total trades with a 77%/22% buy-to-sell ratio
- Nio Inc – ADR (NYSE: NIO)
- Alibaba Group Holding Ltd – ADR (NYSE: BABA)
- Microsoft Corporation (NASDAQ: MSFT)
- NVIDIA Corporation (NASDAQ: NVDA)
- AMC Entertainment Holdings Inc (NYSE: AMC)
What can we learn from these trades?
Well, the elephant in the room this week is Coinbase, which evidently made quite the impression on ASX investors when it listed on the Nasdaq exchange last week. After a dramatic pop to nearly US$430 a share upon listing, Coinbase shares have dropped significantly in the aftermath, and have bumbled along at around US$320-330 a share ever since. That hasn’t stopped nearly 10% of total CommSec trades executing in this company though, and ASX investors seem to be very bullish on this company, judging by the 98%/2% buy-to-sell ratio.
Coinbase has knocked Tesla off of the top of the pile too, after weeks and weeks of the electric vehicle and battery manufacturer dominating ASX investors attention. In last week’s report, Tesla represented 6.2% of total trades, but it was only 4.9% this week.
Tesla’s Chinese rival Nio has also suffered, even being knocked out of the ‘top 5’ for the first time in months.
We still see significant ASX investor interest (particularly on the buying side) in GameStop though, despite this company continuing to slide in price. Since 12 March, GameStop is now down more than 40%.
Data mining company Palantir also seems to be remaining popular, another stock that has seen some recent woes. Palantir is also down more than 40% over the past few months since peaking back in February.
It will be interesting to see if Aussie investors’ love affair with Coinbase continues to burn into next week’s numbers. Until then, it might be an interesting show to watch in the meantime!
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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Sebastian Bowen owns shares of Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alibaba Group Holding Ltd., Apple, Microsoft, NIO Inc., NVIDIA, and Tesla. The Motley Fool Australia’s parent company Motley Fool 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 Motley Fool Australia has recommended Apple and NVIDIA. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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