Investment platform provider CommSec has just released data on the five most traded ASX shares on its platform from last week.
Among the five are some very familiar names, but also a couple which may take investors by surprise.
Here are the most traded ASX shares from last week:
Etherstack PLC (ASX: ESK)
Etherstack shares were in demand with investors last week and became the most traded on the ASX. It accounted for 3.8% of total trades on the CommSec platform. Over the period the UK based tech company’s shares rocketed an incredible 658% higher. Investors were buying Etherstack’s shares after it announced a global agreement with Samsung Electronics.
Alterity Therapeutics Ltd (ASX: ATH)
The next most traded share was Alterity Therapeutics, which accounted for 2.7% of total trades. Alterity Therapeutics is a developer of therapeutic drugs for the treatment of a number of neurological disorders. Last week the U.S. FDA provided it with a development pathway for its ATH434 candidate. ATH434 is the company’s lead compound for the treatment of Multiple System Atrophy (MSA), a Parkinsonian disorder. The buying was so strong it drove the Alterity Therapeutics share price as high as 41 cents. The excitement appears to have worn off now. Its shares have fallen back to a lowly 4 cents.
Zip Co Ltd (ASX: Z1P)
This buy now pay later company’s shares weren’t far behind and accounted for 2.1% of total ASX trades on the CommSec platform. Over the period the company’s shares climbed a decent 5.3%. This was despite there being no news out of Zip Co last week. However, with the pandemic accelerating the shift to online shopping, investors appear confident that the buy now pay later sector is well-placed to profit.
Afterpay Ltd (ASX: APT)
This fellow buy now pay later provider was just a touch behind Zip Co and accounted for 2% of all trades on the platform. Afterpay’s shares were very strong performers during the week and recorded an impressive 18% gain. This took the payments company’s shares to a new record high. It looks set to be another eventful week for its shares. On Tuesday Afterpay announced an $800 million capital raising and released a very strong trading update.
Flight Centre Travel Group Ltd (ASX: FLT)
Finally, this travel agent giant was the fifth most traded stock over the week, accounting for 1.9% of total trades. Last week Flight Centre announced that it secured a debt facility of up to £65 million in the UK to help it navigate the tough trading conditions. While this was a positive, a spike in coronavirus cases in Victoria offset this news and weighed on its shares.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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