Meme stocks most popular US shares for ASX investors

AMC and GameStop were the pick of US shares among ASX investors last week. Here are the details

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Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s CommSec brokerage platform tells us the most popular international shares that its Australian customers were buying and selling the previous week.

CommSec is one of the most popular ASX trading platforms in the country. As such, its data can give us some useful insights into the foreign shares ASX investors are interested in right now.

My Fool colleague James Mickleboro has already covered some of the popular ASX shares from CommSec today. So here are the top 10 US shares that CommSeccers were buying and selling last week. This week’s data covers June 14-18.

Meme stocks steal show

  1. AMC Entertainment Holdings Inc (NYSE: AMC) – representing 4.4% of total trades with a 67%/33% buy-to-sell ratio.
  2. GameStop Corp. (NYSE: GME) – representing 3.5% of total trades with a 94%/6% buy-to-sell ratio.
  3. Tesla Inc (NASDAQ: TSLA) – representing 2.7% of total trades with a 59%/41% buy-to-sell ratio.
  4. Apple Inc (NASDAQ: AAPL) – representing 2% of total trades with a 51%/49% buy-to-sell ratio.
  5. Nio Inc. (NYSE: NIO) – representing 1.6% of total trades with a 57%/43% buy-to-sell ratio.
  6. Microsoft Corporation (NASDAQ: MSFT)
  7. Amazon.com, Inc. (NASDAQ: AMZN)
  8. Alphabet Inc Class C (NASDAQ: GOOG)
  9. Upstart Holdings Inc (NASDAQ: UPST)
  10. Advanced Micro Devices Inc (NASDAQ: AMD)

What can we learn from these trades?

Meme stocks are evidently continuing to dominate the US shares that ASX investors are interested in.

As with last week’s list, ASX investors just can’t seem to get enough of the shares that may offer the possibility of a quick and lucrative gain. That’s what companies like AMC, GameStop and Nio have certainly become known for.

AMC continues to be the king of the hill in this respect.  Even though AMC is still more than 10% away from the all-time high we saw back on 2 June, it has also rallied more than 30% since 10 June.

Some 67% of the ASX investors trading AMC shares last week were buying, so clearly most of these investors think there might be at least another pop left in this stock.

Another, even more surprising, trend to note was GameStop. An uber-bullish 94% of ASX GameStop trades last week were buys. This meme stock rose more than 100% between 12 May and 9 June, before falling more than 33% between 9 June and today. Clearly, most ASX investors looking at GameStop think there might be more gains to squeeze out.

Turning to a newcomer in this list, we have Upstart. Upstart only debuted on the US Nasdaq Exchange back in December last year. Today, it is up 175% since its IPO. However, Upstart shares are also down 26% since 4 June, so perhaps ASX investors are doing some bargain hunting here.

Finally, it’s worth noting that in addition to meme stocks, ASX investors are still evidently being drawn in by many of the US’s big blue chip tech companies. Apple remained popular last week, as did Microsoft. We also see some renewed interest in Google parent Alphabet, as well as e-commerce giant Amazon.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen owns shares of Alphabet (A shares) and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Microsoft, NIO Inc., and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long January 2022 $1,920 calls on Amazon, long March 2023 $120 calls on Apple, short January 2022 $1,940 calls on Amazon, and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, and Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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