Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s CommSec share trading platform tells us the US shares that its Aussie customers were buying the previous week.
Since CommSec is one of the most popular brokers in Australia, this data is a useful insight into the US shares that ASX investors are finding tempting at the moment.
My Fool colleague James Mickleboro has already covered some of the ASX’s most popular shares today. So here are the top 10 US shares that CommSec customers were buying and selling last week. This week’s data covers 10-13 May.
GameStop (and Tesla) still an ASX heart stealer
- Tesla Inc (NASDAQ: TSLA) – representing 7.3% of total trades with a 78%/22% buy-to-sell ratio.
- GameStop Corp. (NYSE: GME) – representing 3% of total trades with a 94%/6% buy-to-sell ratio.
- Apple Inc (NASDAQ: AAPL) – representing 2.5% of total trades with a 69%/31% buy-to-sell ratio.
- Palantir Technologies Inc (NYSE: PLTR) – representing 2.1% of total trades with an 82%/18% buy-to-sell ratio.
- Nio Inc – ADR (NYSE: NIO) – representing 1.8% of total trades with a 58%/42% buy-to-sell ratio.
- AMC Entertainment Holdings Inc (NYSE: AMC)
- Microsoft Corporation (NASDAQ: MSFT)
- Amazon.com Inc. (NASDAQ: AMZN)
- Alibaba Group Holding Ltd (NYSE: BABA)
- Alphabet Inc Class C (NASDAQ: GOOG)
What can we learn from these trades?
Well, this week’s list looks remarkably similar to last weeks’ list. The same top 5 shares, with the exception of Nio. Similar buy/sell ratios for the top 5. And some similar themes.
One thing that stands out this week is the ongoing obsession ASX investors seem to have with GameStop Corp. GameStop was infamously the hottest stock in the world back in January. That was when a Reddit-fuelled stock squeeze was orchestrated by retail investors, forcing GameStop shares up 1,770% between 1 January and 27 January. Today, GameStop shares are down almost 50% from those highs. Saying that, this stock has continued to provide the odd ‘pop’ since then. Case in point, the stock is currently up 26% since last Monday. The 94%-6% buy-to-sell ratio is startlingly bullish too. Clearly, there are many ASX investors who are still looking to get lucky with this one.
Tesla remains at the top of the pile too, with more than double the total trades of the second-place GameStop last week. That’s despite the Elon Musk-headed electric vehicle and better manufacturer losing almost 20% of its value over the past month.
Nio’s return to the top 5 is also interesting. Nio, a Chinese electric vehicle maker and rival to Tesla, is now down around 37% year to date. But given this company went from US$3 a share in March last year to a high of US$67 by January, there are clearly a few investors looking for some more magic out of this one.
Meanwhile, Aussie demand for the blue chip US tech stocks continues to be solid. Apple still holds its bronze medal in this list. And Amazon, Microsoft and Google-parent Alphabet are still bobbing along in the top 10.