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Zip and Estrella Resources were among the most traded shares on the ASX last week

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This morning Australia’s leading investment platform provider CommSec released data on the most traded ASX shares on its platform from last week.

While there are once again some familiar faces, there are also a couple of very surprising additions to the top five this week.

Here’s the data:

Zip Co Ltd (ASX: Z1P)

This buy now pay later provider was the most popular share on the CommSec platform last week and accounted for 3.7% of total trades. Although just 44% of these trades came from the buy side, it was enough to lift the Zip share price by a sizeable 16.5%. The catalyst for this was news of tax cuts and a positive update from rival Sezzle Inc (ASX: SZL).

Mesoblast limited (ASX: MSB)

Mesoblast shares were popular with retail investors last week. The biotech company’s shares were responsible for 2.7% of trades on the platform. Almost two-thirds of these trades came from buyers, who may believe that a recent crash in the Mesoblast share price has created a buying opportunity. That decline was driven by an unfavourable decision by the US FDA at the start of the month. Mesoblast shares rose 5.6% last week.

American Rare Earths Ltd (ASX: ARR)

The first surprise addition to the top five was this small mineral resources company. It accounted for 1.8% of trades on the CommSec platform. The catalyst for this was news that US President Donald Trump had signed an Executive Order which declared it a national emergency for the US to increase its rare earths mining and processing capacity. The American Rare Earths share price rocketed 160% higher over the week.

Estrella Resources Ltd (ASX: ESR)

This junior exploration company is another surprise addition to the top five this week. Its shares were in demand with investors last week after announcing a significant nickel sulphide discovery at its Carr Boyd nickel project in Western Australia. Estrella Resources shares accounted for 1.6% of trades on the platform, with 60% coming from buyers. Those buyers will be pleased to learn that the Estrella Resources share price recorded a weekly gain of over 350%.

Afterpay Ltd (ASX: APT)

Afterpay was popular with investors again last week and was responsible for 1.5% of trades on the CommSec platform. And despite almost two-thirds of these trades coming from sellers, it couldn’t stop the Afterpay share price from surging over 12% higher over the five days. A strong update from Sezzle and a favourable Federal Budget appeared to give its shares a lift.

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Returns as of 6th October 2020

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. 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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