ASX investors were buying Robinhood, Square shares last week

ASX investors were buying Robinhood and Square shares last week

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Most weeks, Commonwealth Bank of Australia (ASX: CBA)’s brokerage platform CommSec tells us the most traded international shares (usually just US shares) that its Aussie customer base have been buying and selling the previous week.

CommSec is one of the most popular brokers in Australia. Because of this, CommSec’s trading data gives us a useful insight into the US shares that ASX investors are finding interesting right now. 

So here are the top 10 international shares that CommSec-ers were trading last week. This week’s data covers 2-6 August.

Robinhood and Square make their presence known to ASX investors

  1. Tesla Inc (NASDAQ: TSLA) – representing 3.7% of total trades with a 60%/40% buy-to-sell ratio.
  2. GameStop Corp. (NYSE: GME) – representing 2.9% of total trades with a 93%/7% buy-to-sell ratio.
  3. Amazon.com, Inc. (NASDAQ: AMZN) – representing 2.5% of total trades with an 86%/14% buy-to-sell ratio.
  4. Apple Inc (NASDAQ: AAPL) – representing 2.4% of total trades with a 65%/35% buy-to-sell ratio.
  5. Robinhood Markets Inc (NASDAQ: HOOD) – representing 1.9% of total trades with a 72%/28% buy-to-sell ratio.
  6. Square Inc (NYSE: SQ)
  7. AMC Entertainment Holdings Inc (NYSE: AMC)
  8. Advanced Micro Devices, Inc. (NASDAQ: AMD)
  9. Moderna Inc (NASDAQ: MRNA)
  10. Alibaba Group Holding Ltd (NYSE: BABA)

What can we learn from these trades?

We see some interesting movements in this week’s list. Firstly, it’s worth noting that the perenially popular shares of Tesla and GameStop remain at the top of this pile, cementing a trend we have pretty much seen all year. Investors remain super-bullish on these two companies as well, in particular with GameStop. A staggering 93% of all GameStop trades on CommSec last week were on the buy side, despite the fact that this original ‘meme stock’ has slid around 15% over the past month or so.

Tesla also remains popular, albeit less so than GameStop. Tesla shares are up roughly 10% since the start of the month, which may be influencing trading activity here.

But turning to other news, and it was interesting to see e-commerce giant Amazon climb into the top 5 shares this week. Amazon is a regular feature on this list, but usually occupies a spot at the bottom of the table when it does turn up. Perhaps a rare share price pullback in Amazon shares (the company is down more than 10% over the month just passed) is to thank for this.

We also see a strong appetite for US share market newcomer Robinhood. Robinhood had an explosive IPO late last month, rising from around US$35 a share to US$85 by last Wednesday. The company is back down to the mid-US$50 range as it stands today.

And finally, it’s also worth noting the presence of Afterpay Ltd‘s (ASX: APT) potential new overlord Square. Like Amazon, Square is a company that has turned up at the bottom of this table before, but its new presence in the ASX investor’s mind looks to have boosted its profile. Square’s commitment to list on the ASX if its acquisition of Afterpay goes through may also be at play here.

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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. Motley Fool contributor Sebastian Bowen owns shares of Square and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Advanced Micro Devices, Alibaba Group Holding Ltd., Amazon, Apple, Square, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Moderna Inc. and 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 owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended 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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