Top 20 ASX trades by Sharesight users – October 2023

Welcome to the October 2023 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, buy trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual stocks, buy trades were led by CSL (ASX: CSL), which saw its share price hit a multi-year low. Over the same period, sell trades were led by Pilbara Minerals (ASX: PLS), which has recently been the target of short-sellers.

Top 20 ASX trades October 2023

Let’s look at the news behind some of the key stocks in this month’s snapshot:

CSL (ASX: CSL)

• CSL share price hits multi-year low
• CSL is “never going to be a dividend stock”, declares chairman
• CEO insists Ozempic won’t impact CSL’s growth

ResMed (ASX: RMD)

• ResMed share price tumbles 36%, likely fuelled by Ozempic disruption fears
• ResMed reports 16% revenue growth for Q1 FY24
• Share price falls despite strong Q1 results

Pilbara Minerals (ASX: PLS)

• Pilbara puts special dividend on hold as lithium price falls
• Falls short of market expectations in Q1 earnings results
• Pilbara cannot compete with Chinese refiners without government subsidies, argues CEO

BHP (ASX: BHP)

• BHP raises concerns about Biden’s Jakarta nickel deal
• Proposes converting Mt Arthur coal mine to hydropower project
• BHP says “same job same pay” reforms would make it “unfeasible” to achieve diversity targets

Woodside Energy (ASX: WDS)

• Woodside requests urgent reforms over threat to Scarborough gas
• Misses Q3 revenue estimate, narrows full-year production outlook
• Share price drops following Q3 earnings

Mineral Resources (ASX: MIN)

• Mineral Resources share price hits 52-week low
• Share price rises on 14% quarterly production boost
• Mineral Resources eyes new lithium prospect near Wodgina mine

Whitehaven Coal (ASX: WHC)

• Whitehaven Coal scrutinised over US$4.1 billion QLD mine deal
• QLD mine deal will grow Whitehaven’s EPS 93% by 2025, say analysts
• Whitehaven Coal production rises almost 33% in Q1 FY24

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• Top 20 ASX trades by Sharesight users – September 2023