Top 20 trades in US stocks by Sharesight users – April 2024

Welcome to the April 2024 edition of Sharesight’s monthly USA trading snapshot, where we look at Sharesight users’ top 20 trades in US stocks on the Nasdaq, NYSE and NYSE American market (AMEX) over the month.

In this snapshot, buy trades were led by Tesla (NASDAQ: TSLA), which has seen its share price swing dramatically throughout April, with investors concerned about the automaker’s declining sales and ongoing price cuts. Over the same period, sell trades were led by NVIDIA (NASDAQ: NVDA), which also saw its share price drop as part of a widespread tech stock selloff. It was a tech-heavy month overall, with 13 of the top 20 stocks belonging to the tech, EV, semiconductor and e-commerce sectors.

Top 20 US stock trades April 2024

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Tesla (NASDAQ: TSLA)

• Tesla shares sink on news of YoY sales decline
• Shares plummet further following price cut announcement
• Tesla abandons plans to manufacture “low-cost family car”

NVIDIA (NASDAQ: NVDA)

• NVIDIA shares plummet 10% as tech stocks fall out of favour with investors
• Analyst sees 81% upside for NVIDIA shares amid AI craze
• NVIDIA share price on watch ahead of May earnings report

Apple (NASDAQ: AAPL)

• Apple share price could have 48% upside potential, says analyst
• Apple stock upgraded ahead of earnings report
• Investors have ‘low expectations’ of Apple’s Q1 earnings due to weak iPhone sales and growing competition

Microsoft (NASDAQ: MSFT)

• Microsoft is the best positioned software stock to turn ‘AI hype’ into ‘revenue reality’, says analyst
• Makes US$1.5 billion investment in UAE-based AI firm
• Microsoft exceeds earnings expectations; share price rises 5%

Amazon (NASDAQ: AMZN)

• Amazon share price reaches record high; valuation on the cusp of US$2 trillion
• Amazon share price on watch ahead of Q1 earnings report
• Share price drops amid widespread tech stock selloff

Meta (NASDAQ: FB)

• Meta expected to reveal earnings growth in upcoming Q1 report
• Share price tumbles 15% after news of aggressive AI spending plans
• Meta stock has worst day in years, losing billions in value

Advanced Micro Devices (NASDAQ: AMD)

• AMD shares drop as interest-rate-sensitive investors reassess stock’s outlook
• Could AMD stock outshine NVIDIA?
• Analyst predicts 38% upside potential for AMD share price

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• Top 20 trades in US stocks by Sharesight users – March 2024