Australia's leading investment platform provider CommSec has just released data on the five most traded ASX shares on its platform from last week.
Once again, there were a number of familiar names in the list this week, most notably from the buy now pay later (BNPL) industry.
Here's the data:
Zip Co Ltd (ASX: Z1P)
For yet another week, this BNPL provider was extremely popular with ASX investors. Zip shares accounted for a massive 7.6% of total trades made on the CommSec platform last week, with a sizeable 74% of these trades coming from buyers. Despite this buying, it wasn't enough to stop the Zip share price from crashing 24% lower over the five days. Concerns over PayPal's entry into the BNPL market spooked investors.
Afterpay Ltd (ASX: APT)
Also popular with CommSec investors last week was Afterpay. The payments company's shares accounted for 3.3% of trades on the platform over the period. And although approximately 61% of these trades came from buyers, the Afterpay share price fell 12% last week. A combination of the PayPal news and a selloff on the tech-heavy Nasdaq index weighed heavily on its shares.
Brainchip Holdings Ltd (ASX: BRN)
For a second week in a row, this provider of ultra-low power high performance artificial intelligence technology was among the most traded shares on the CommSec platform. Brainchip shares accounted for 3.2% of trades on the platform last week, with buyers behind 66% of these trades. It certainly paid off for those investors. Brainchip's shares recorded a 57% gain last week. Brainchip announced a potential program collaboration with NASA on the Monday.
BetaShares NASDAQ 100 ETF (ASX: NDQ)
It's not often that an exchange traded fund (ETF) makes the list, but that's what happened last week. The BetaShares NASDAQ 100 ETF accounted for 1.8% of trades on the CommSec platform over the five days. And with 89% of these trades coming from buyers, it appears as though investors saw the aforementioned Nasdaq selloff as a buying opportunity.
Sezzle Inc (ASX: SZL)
Finally, Sezzle is back among the most traded shares. The BNPL provider accounted for 1.7% of trades on the CommSec platform. Once again, the high level of trading appears to have stemmed from news that PayPal is entering the fast-growing BNPL market with its Pay in 4 product. The payments giant intends to launch in the United States during the final quarter of 2020. The Sezzle share price lost a third of its value last week.
