Top trades by New Zealand Sharesight users — August 2024

Welcome to the August 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 August 2024

Note: To get a closer look at this chart, you can right-click and open the image in a new tab (for desktop) or press-hold and download the image or open it in a web browser (for mobile).

This month, the top trades were led by the Smartshares US 500 ETF (NZX: USF), followed by Apple (NASDAQ: AAPL) and NVIDIA (NASDAQ: NVDA). 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 August 2024

Note: To get a closer look at this chart, you can right-click and open the image in a new tab (for desktop) or press-hold and download the image or open it in a web browser (for mobile).

This month’s top-traded stocks were led by Apple (NASDAQ: AAPL), which saw its share price continue to edge closer to its all-time high of US$237.23. The top trades were followed by NVIDIA (NASDAQ: NVDA), which saw its share price drop despite almost doubling its sales and producing record quarterly revenue, with shareholders turned off by the company’s slowing growth rate.

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 Apple, 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:

Apple (NASDAQ: AAPL)

• Apple announces new CFO Kevan Parekh
• Apple in talks to invest in OpenAI
• Share price edges closer to its all-time high

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

Amazon (NASDAQ: AMZN)

• Amazon downgraded by Wall St analysts after falling short of market expectations in Q2 results
• Amazon slashes costs and time with AI-powered assistant for software development

Spark NZ (NZX: SPK)

• Spark reports 72% drop in full year net profit; revenue down 14%
• Hundreds of jobs could be lost as Spark embarks on cost-cutting mission

Rocket Lab (NASDAQ: RKLB)

• Rocket Lab posts record-breaking revenue; expects to break even soon
• Rocket Lab CEO says company has what it takes to break SpaceX’s monopoly

Air NZ (NZX: AIR)

• Air NZ revokes 2030 emissions reduction goal; drops out of SBTi
• Annual profit plummets by 61%
• Acquires additional 49.1 million shares in Virgin Australia to maintain 19.99% stake

Track your investment portfolio with Sharesight

Get access to insights like this by tracking your investment portfolio with Sharesight. Built for the needs of investors like you, with Sharesight you can:

• Track all your investments in one place, including stocks, ETFs, mutual/managed funds, property, and even cryptocurrency
• Get the true picture of your investment performance, including the impact of brokerage fees, dividends, and capital gains with Sharesight’s annualised performance calculation methodology
• Run powerful reports built for investors, including performance, portfolio diversity, contribution analysis, exposure, multi-period, multi-currency valuation and future income
• Run tax reports including taxable income (dividends/distributions), Capital Gains Tax (Australia and Canada), Traders Tax (Capital Gains for traders in NZ) and FIF foreign investment fund income reports (NZ)

Sign up for a FREE Sharesight account and get started tracking your investments today.

Disclaimer: The above article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.

FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top trades by New Zealand Sharesight users — July 2024