Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s CommSec share trading platform tells us the most popular international shares (usually just US shares) that its Australian customer base was looking at the previous week.
CommSec is one of the largest share trading platforms on the ASX. Because of this, its data can give us a window into what is interesting to Aussie investors on the US markets right now.
My Fool colleague James Mickleboro has already covered some CommSec’s ASX’s most popular shares today. So here are the top 10 international shares that CommSec users were buying and selling last week. This week’s data covers 31 May to 4 June.
AMC and ‘meme stocks’ still dominate ASX investors attention
- AMC Entertainment Holdings Inc (NYSE: AMC) – representing 10.2% of total trades with a 66%/34% buy-to-sell ratio.
- GameStop Corp. (NYSE: GME) – representing 4.7% of total trades with a 78%/22% buy-to-sell ratio.
- Tesla Inc (NASDAQ: TSLA) – representing 4.6% of total trades with a 72%/28% buy-to-sell ratio.
- BlackBerry Ltd (NYSE: BB) – representing 1.3% of total trades with a 72%/28% buy-to-sell ratio.
- Apple Inc (NASDAQ: AAPL) – representing 2.6% of total trades with a 76%/24% buy-to-sell ratio.
- Nio Inc. (NYSE: NIO)
- Palantir Technologies Inc (NYSE: PLTR)
- Sundial Growers Inc (NASDAQ: SNDL)
- Microsoft Corporation (NASDAQ: MSFT)
- Alibaba Group Holding Ltd (NYSE: BABA)
What can we learn from these trades?
Last week, we discussed how cinema chain AMC had finally displaced the long-running king of this pile – Tesla. Well, ASX investors seemed to have doubled down on that change. AMC shares dominated ASX investors’ attention last week, representing a whopping 10.2% of all US share trades. For comparison, last week, AC made up 6.2% of all trades.
AMC is the latest so-called ‘meme stocks’, delivering a massive 544% gain between 3 May and 2 June. Since 66% of trades last week were buys, we can possibly assume that many investors think that this run isn’t over yet.
In other news, another meme stock in BlackBerry (yes, the BlackBerry phone maker) also burst onto ASX investors’ minds last week. BlackBerry spiked in value back in February amid the first GameStop saga. But it’s also been resurging lately with an 83.6% gain since 25 May. We saw an even stronger buying bias with this one, so again, we can probably assume there are still some ASX investors attempting to jump on this rain
Other than that, we see many familiar faces this week. GameStop and Tesla both remain popular, as does Apple and Chinese Tesla-rival Nio. A newcomer though is Canadian cannabis stock, Sundial Growers. According to our US Fool colleagues, Sundial is yet another candidate for the latest meme stock. Its shares rose almost 80% between 24 May and 3 June. It seems ASX investors have followed their International counterparts in chasing this cannabis company higher.