Top trades by New Zealand Sharesight users — October 2024

Welcome to the October 2024 edition of Sharesight’s monthly trading snapshot for New Zealand investors, where we look at the top 20 trades made by New Zealand Sharesight users. Below we will look at the top trades overall, plus the top trades in individual stocks, which allows us to observe the broader investment trends by Sharesight users in New Zealand, while also giving us an opportunity to zoom into the most popular stocks and the market-moving news behind them.

Top trades in October 2024

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This month, the top trades were strongly led by the Smartshares US 500 ETF (NZX: USF), followed by NVIDIA (NASDAQ: NVDA) and Vanguard’s S&P 500 ETF (NYSEARCA: VOO). It was a strong month for ETF trading overall, with 10 of the top 20 trades consisting of ETFs. It’s also worth noting that the majority of these trades are buy trades, which is to be expected in an ETF-heavy snapshot. Overall, this snapshot suggests that many New Zealand Sharesight users are employing a long-term buy-and-hold strategy, taking advantage of recent dips in the market to bolster their ETF investments.

Most-traded stocks in October 2024

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This month’s top-traded stocks were strongly led 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 Meta (NASDAQ: META), which saw its share price fluctuate throughout the month, ahead of the release of its Q3 earnings report.

Let’s look at some of 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

Meta (NASDAQ: META)

• Meta faced with US$2.8 million-worth of Japanese lawsuits over fake ads
• Plans to develop search engine to power its AI chatbot

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

Tesla (NASDAQ: TSLA)

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

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

Spark NZ (NZX: SPK)

• Spark cuts earnings guidance due to weak economy
• Considers divesting stake in mobile tower business Connexa

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FURTHER READING

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• Top trades by New Zealand Sharesight users — September 2024