Investment platform provider CommSec has just released data on the five most traded ASX shares on its platform from last week.
This week all five ASX shares came from just a single area – the buy now pay later sector.
Approximately 21% of trades on the CommSec platform involved buy now pay later companies, which I feel demonstrates just how high investor interest in this particular part of the market is right now.
But which buy now pay later companies are investors buying the most? Here’s the data:
Zip Co Ltd (ASX: Z1P)
Zip shares were the most traded on the ASX by CommSec customers last week. The buy now pay later company’s shares accounted for 8.1% of total trades made on the CommSec platform following the release of its fourth quarter and full year update. According to the data, 70% of these trades were executed by buyers. Despite this buying, it couldn’t stop the Zip share price from tumbling 18.5% lower during the period.
Openpay Group Ltd (ASX: OPY)
The next most traded share on the CommSec platform was Openpay. It was responsible for 5.3% of total trades on the platform last week. Investors were buying its shares after it announced record growth for FY 2020. During the 12 months, Openpay delivered a 141% increase in active customers and a 52% lift in active merchants. This underpinned a 98.2% increase in total transaction value to $192.8 million. The Openpay share price recorded a 28% gain for the week.
Afterpay Ltd (ASX: APT)
The Afterpay share price was popular with investors last week, accounting for 3.4% of total CommSec trades. This follows the announcement of deals with Apple Pay and Google Pay for in-store payments in the United States. However, the buying wasn’t strong enough to prevent the buy now pay later giant from slumping 7% over the period.
Sezzle Inc (ASX: SZL)
Investors were also heavily trading Sezzle’s shares last week. The U.S. based buy now pay later provider’s shares accounted for 2.4% of total trades on the Commsec platform. The Sezzle share price rocketed to a record high on Monday of last week after they returned from a trading halt following the completion of its placement. Sezzle is raising a total of $86.3 million to accelerate its growth strategy and strengthen its balance sheet. These gains didn’t stick, though. By the close of play on Friday, Sezzle’s shares had lost 3.2% for the week.
Splitit Ltd (ASX: SPT)
Finally, Splitit was the fifth most traded share on the CommSec platform last week. It accounted for 1.5% of total trades over the period. This was despite there being no news out of the company. And despite buyers accounting for 63% of trades in the stock, the Splitit share price lost 10.5% of its value last week.
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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 Sezzle Inc. 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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