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Top trades by global Sharesight users — August 2024

September 3, 2024

This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
You can find the original post here:
https://www.sharesight.com/blog/top-trades-global-sharesight-users-august-2024/

Welcome to the August 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 August 2024

This month’s top trades were led primarily by buy trades in NVIDIA (NASDAQ: NVDA), with opportunistic investors taking advantage of declining share prices in the wake of the company’s quarterly earnings report. The top trades were followed by Apple (NASDAQ: AAPL), which has seen its share price rise steadily throughout August. It was a strong month for tech stocks in general, with 14 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 drops despite record sales; investors concerned about slowing rate of growth
  • Raises revenue expectations amid high demand for its next-gen chip

Apple (NASDAQ: AAPL)

Amazon (NASDAQ: AMZN)

Intel (NASDAQ: INTC)

Meta (NASDAQ: FB)

  • Meta share price soars following higher-than-expected profit of US$13.5 billion
  • Analysts bullish on Meta as CEO sells investors on AI plans

Advanced Micro Devices (NASDAQ: AMD)

  • AMD beats analysts’ expectations in Q2 sales, fuelled by record data centre revenue
  • CEO sells over US$12 million in shares

Why leave it there?

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