Top trades by New Zealand Sharesight users — September 2024

Welcome to the September 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 September 2024

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This month, the top trades were strongly led by the Smartshares US 500 ETF (NZX: USF), followed by Microsoft (NASDAQ: MSFT) and the Smartshares NZ Top 50 ETF (NZX: FNZ). It was a strong month for ETF trading overall, with 8 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 September 2024

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This month’s top-traded stocks were led by Microsoft (NASDAQ: MSFT), which announced its plans to invest US$1.3 billion in cloud and AI tech. The top trades were followed by NVIDIA (NASDAQ: NVDA), which saw its share price rise throughout the month, once again surpassing a market capitalisation of US$3 trillion.

It should be noted that the assets in our trading snapshots are ordered by the number of Sharesight users trading that asset, while the size of the bars indicate the actual trade volume. So while there are more customers trading in Microsoft, the volume of NVIDIA trades is higher, meaning that while there are fewer people trading in NVIDIA, they are making more trades.

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

Microsoft (NASDAQ: MSFT)

• Microsoft to invest US$1.3 billion on cloud and AI tech in Mexico
• Microsoft Azure predicted to reach US$200 million in revenue by 2028
• Microsoft stock gets rare downgrade over concerns it’s losing market share to Amazon and Alphabet

NVIDIA (NASDAQ: NVDA)

• NVIDIA surpasses US$3 trillion market cap once again
• China urges companies to use local chip products rather than NVIDIA

Apple (NASDAQ: AAPL)

• Apple share price rises on comments about demand for iPhone 16
• Is Apple’s AI-related upside overexaggerated?

Tesla (NASDAQ: TSLA)

• Tesla share price hits 2-month high ahead of Q3 results and robotaxi event
• Tesla CEO Elon Musk on track to become world’s first trillionaire
• Tesla rival NEO receives US$1.43 billion cash injection

Amazon (NASDAQ: AMZN)

• Analyst bullish on Amazon due to ad strength
• Amazon share price declines as investors concerned over US hiring data

Air NZ (NZX: AIR)

• Air NZ was failing to hit climate goals just two years into now-scrapped 2030 climate target
• Announces earnings drop in FY24 financial results

Intel (NASDAQ: INTL)

• Intel share price rises on news of funding from US govt. and Amazon
• Rumors of takeover interest from Qualcomm and Apollo

Palantir (NYSE: PLTR)

• Analyst optimistic on Palantir due to growing interest in AIP platform
• Palantir joins S&P 500 index

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FURTHER READING

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• Top trades by New Zealand Sharesight users — August 2024