Top trades by global Sharesight users — October 2024

Welcome to the October 2024 edition of Sharesight’s monthly trading snapshot for global investors, where we look at the top 20 trades made by Sharesight users around the world, excluding Australia and New Zealand (which we cover separately). Below we will reveal the top trades by our global userbase, highlighting some of the most popular stocks and the market-moving news behind them.

Top trades in October 2024

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This month’s top trades were strongly led primarily by buy trades in NVIDIA (NASDAQ: NVDA), which saw its share price rise steadily throughout October, hitting a new 52-week high. The top trades were followed by Vanguard’s S&P 500 ETF (NYSEARCA: VOO) and Tesla (NASDAQ: TSLA), which saw its share price skyrocket following the release of a Q3 earnings report that exceeded analysts’ expectations. It was a strong month for tech stocks in general, with 13 of the top 20 trades consisting of stocks belonging to the tech, EV, semiconductor and e-commerce sectors.

Let’s look at the market-moving news behind some of this month’s top stocks:

NVIDIA (NASDAQ: NVDA)

• NVIDIA share price hits new 52-week high amid bullish analyst sentiment
• NVIDIA briefly surpasses Apple as world’s most valuable company

Tesla (NASDAQ: TSLA)

• Tesla beats Q3 earnings expectations, driven by cost cuts
• Shares rise to highest price in 13 months in post-earnings rally

Microsoft (NASDAQ: MSFT)

• Microsoft CEO gets 63% pay increase despite allegedly requesting a reduction
• Microsoft claims Google has been attempting to sabotage its cloud business
• Share price on watch ahead of Q1 earnings report

Apple (NASDAQ: AAPL)

• Apple barred from selling iPhone 16 in Indonesia
• Share price drops following report that Apple cut orders for iPhone 16 by millions of units

Amazon (NASDAQ: AMZN)

• Is Amazon spending too much on AI?
• Amazon share price in the spotlight ahead of Q3 results

Palantir Technologies (NYSE: PLTR)

• Palantir share price is up 161% YoY
• Palantir is now worth AU$100 billion
• Share price in focus as Q3 earnings report looms

Alibaba (NYSE: BABA)

• Alibaba to pay US$433.5 million in shareholder lawsuit over monopoly claims
• Leading broker sees long-term upside for Alibaba

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FURTHER READING

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• Top trades by global Sharesight users — September 2024