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Australia’s most popular low cost, independent equities trading platform Selfwealth has released its latest report on the most traded Australian and US stocks for June 2023.
Key highlight: Individual records tumbled for Apple and Tesla as investors maintained a close eye on share price momentum for key names
US share trading activity
With shares in Apple (NASDAQ: AAPL) setting a new all-time high, the stock was a popular trade among Selfwealth members. More than seven out of every ten trades in AAPL were buy orders, and total trades grew more than 50% month-over-month as investors clearly favoured the momentum of the iconic iPhone manufacturer. Furthermore, investors seem undeterred by the company’s valuation, which recently surpassed US$3 trillion.
One tech company going in the opposite direction last month was Meta Platforms (NASDAQ: META). Down in ninth position, just 35.1% of all trades in the parent company of Facebook and Instagram were buy orders. The overwhelming level of selling activity was likely driven by profit taking, with the stock trading at its highest level in 17 months, and up more than 130% year-to-date.
Coinbase (NASDAQ: COIN) made a return to the list of the most traded US stocks on the Selfwealth platform. Shares in Coinbase advanced 15% throughout June, which was largely a reflection of a rally in bitcoin prices. The price of bitcoin jumped around 12% last month, and with Coinbase’s fortunes directly linked to sentiment in the crypto market, it’s no surprise there was a spike in trades for COIN.
Meanwhile, the artificial intelligence (AI) thematic is still running strong within the community. Semiconductor stocks like Nvidia (NASDAQ: NVDA) were a popular trade in June, ranking third, while Microsoft (NASDAQ: MSFT) and Palantir (NYSE: PLTR), among others, also drew widespread interest from investors and traders alike.
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