Most traded stocks of the week

We reveal the most traded stocks among our clients over the past week, providing insight into what equities are grabbing the most attention from traders.

Stocks (1)

What are the most traded stocks of the week?

Below is a list of the 20 most traded stocks among StoneX Retail clients during the five trading sessions to the end of play on Thursday May 26. Exchange-Traded Funds (ETFs) have been excluded.

1

Tesla

11

Infineon Technologies

2

Apple

12

Alibaba

3

NVIDIA

13

SVB Financial

4

Amazon

14

Microsoft

5

Alphabet

15

Thermo Fisher Scientific

6

Meta

16

BE Semiconductor

7

AMC Entertainment

17

Sea

8

DBS Group

18

Rolls Royce

9

Netflix

19

Bank of America

10

THG Holdings

20

Shell

 

Apple shares have risen over 3% during the last week, despite supply chain problems continuing to weigh on the outlook. Reports this week suggested Apple’s iPhone production could stay flat in 2022 at just 220 million units as a result of Covid-19 disruption in China, which disappointed markets that were hoping it could produce closer to 240 million iPhones. Apple also said it is raising pay for US retail staff to $22 per hour from $20 as it tries to retain staff in a tight labour market and counter the cost-of-living crisis for its employees.

Microsoft shares have also risen over 3% this week and are currently trading at just under $267. Jefferies cut its price target on the stock to $325 from $400. The company is thought to have slowed the pace of hiring new staff within its Windows and Office divisions, as well as its Teams chat and conferencing software units, according to internal emails seen by Bloomberg.

Meta has seen its share price rattled this week after Snap, the owner of Snapchat, warned it would miss expectations in the current quarter because the ‘macroeconomic environment has deteriorated further and faster than anticipated’ since it provided its last guidance in April. That will be of concern to investors considering CEO Mark Zuckerberg said the firm plans to invest heavily in the metaverse over the coming years. Its Reality Labs unit covering its metaverse activities already lose over $10 billion each year and this sum could increase as Meta works on reducing the cost of hardware such as VR headsets and expanding the digital economy, but that will be of concern considering its social media platforms that generate all its cash are operating in an increasingly challenging environment.

Alphabet has been the worst performer within Big Tech this week after losing 3.7% amid a wave of negative news for the stock. UK competition regulators launched their second probe into the company over concerns it is favouring its own digital services and distorting the market, Republicans in the US are looking to ban Alphabet (as well as Apple) from hosting apps that accept China’s digital currency, and there were reports that Russia has seized RUB7.7 billion – equal to around $123 million – as part of a fine after the company’s subsidiary in the country said it planned to file for bankruptcy. There was more positive news out this morning suggesting Google is in talks about integrating its shopping services with India’s open ecommerce network named ONDC, according to Reuters.

Amazon shares have risen 1.4% over the past five trading sessions. Cowen & Co said that the selloff in Amazon shares this year has been overdone considering the strength of cloud computing unit Amazon Web Services, and suggests the current valuation completely disregards any contribution from its vast ecommerce operation, advertising services and subscriptions. The company held its annual general meeting this week that saw investors approve plans to conduct its 20-for-1 stock split next week, which won’t impact the overall value of the company but will reduce the cost of each individual share. You can read more about the Amazon stock split here.

Netflix shares have continued to slowly rebound since hitting its lowest level since 2017 earlier this month, with the stock up 3% in the past week. Still, the stock is still trailing over 45% since releasing its last set of quarterly results that revealed it lost subscribers for the first time in over a decade and warned it would lose 2 million more in the current quarter.

Tesla shares have shed 1% in value this week and have now lost over 42% in value since peaking at all-time highs back in November. Notably, Jefferies cut its target price on Tesla this week to $1,050 from $1,250 following an ‘uncomfortable pile-up’ of bad news. This includes the recall of hundreds of thousands of vehicles, Covid-19 disruption in China, rising inflation and supply chain challenges. Daiwa Capital Markets also said it believed Tesla will produce fewer vehicles than it previously expected this year as a result.

Meanwhile, CEO Elon Musk is also being sued by certain Twitter shareholders that have accused him of manipulating the share price of the social media company downward with his $44 billion proposed takeover. Twitter shares have proven volatile but are still trading around the $39 mark, which is where they sat before Musk declared his stake in the company. That is well below the $54.20 offer on the table. Although it appears Musk has reaffirmed his commitment to the deal after finding another $6.25 billion in funding this week, allowing him to reduce the amount he has to pledge in Tesla shares toward the debt proportion of the financing, there is still severe doubt that Musk could renegotiate the price tag or pull out of the deal altogether.

NVIDIA shares have popped over 11% since releasing its first quarter earnings this week. Markets were initially unimpressed by the update after a record performance was overshadowed by a disappointing outlook that has been hit by the disruption caused by the isolation of Russia and Covid-19 lockdowns in China. However, the tone has swiftly changed and brought buyers into the fold after brokers signalled there was still considerable upside potential even after cutting their target prices thanks to the strong growth drivers that should allow NVIDIA to keep up the momentum despite near-term challenges.

Still, the weaker-than-anticipated outlook from NVIDIA will be of concern to those with shares in European rivals. Dutch chipmaker BE Semiconductor – also known as Besi – remains in recovery mode as it continues to rebound since hitting its lowest level since early 2021 earlier this month. The stock has now bounced back some 12.5% since May 9. Meanwhile, German semiconductor maker Infineon has also proven popular this week. The stock has lost over 35% since peaking at all-time highs last November.

Bank of America shares appear to have bottomed-out after experiencing a heavy fall in 2022, with the stock up over 5% this week. That was the result of a broader rally in bank stocks as the Treasury yield curve steepened, which usually signals improved profitability for banks that make money on the difference between the short-term rates paid out on deposits and the long-term rates collected on loans. Although higher interest rates should boost profitability for banks this year, concerns are growing about how they will perform if a recession hits as inflation continues to spike. Bank of America also said it would handout additional pay rises to staff earning less than $100,000, including contributions toward their electric cars.

SVB Financial shares have risen 6.9% this week and also look to be on the rebound. However, Wolfe Research cut its price target on the stock to $470 from $723 this week, suggesting the stock is now overvalued after last closing at $473.

Meanwhile, Singaporean bank DBS Group has held steady this week.

Fellow Singaporean outfit Sea, which owns ecommerce, digital entertainment and financial service divisions, has popped almost 40% since hitting a two-year low earlier this month. Still, the stock is down 64% since the start of the year and has plunged over 77% since hitting all-time highs last November.

Thermo Fisher Scientific shares have remained under pressure this week and fallen 3.4%. The company saw its share price gains accelerate in the years leading up to 2022 before being caught up in the wider turmoil hitting the markets, with the stock having lost over one-fifth of its value this year.

AMC Entertainment has proven highly volatile this week amid renewed interest in meme stocks. Retail traders have been revaluating AMC, alongside other favourites like GameStop, on hopes that rising short interest twinned with higher borrowing costs will lead to a short squeeze and propel them higher. AMC shares have now given back all the gains booked since the original trading frenzy in meme stocks happened back in May 2021.

Alibaba shares in the US have soared almost 15% since it released quarterly results that beat expectations this week. The company said it would scale back its ambitions in areas that are not creating long-term value and told investors that the Chinese government has been ‘clear’ that it wants to support the platform economy. That has allayed fears that the regulatory overhaul will continue to plague Chinese stocks and concerns that consumer spending is tightening. The firm said it isn’t providing guidance for the new financial year due to this, but said it expects Alibaba to continue generating cashflow.

Turning to the UK, ecommerce platform THG has continued to grab attention on M&A news. The stock has jumped some 84% since hitting all-time lows back in March, but remains some 80% lower than where it started life when it went public. Reports this week suggested founder Matt Moulding would support a takeover at 250p per share, which would value the business at some £3 billion. THG has struggled since going public and is today worth just 154p per share, or £1.9 billion. That comes after THG said it had been approached about a bid worth closer to 170p. Notably, JPMorgan cut its target price on THG to 148p from 205p this morning.

Shell shares have continued to rise this week and have hit their highest level since the start of the pandemic. News that the UK is set to impose a windfall tax on oil companies to help fund support amid the cost-of-living crisis has not deterred investors this week, despite the fact Shell warned that a badly designed tax could curtail the level of investment being made into energy infrastructure, while JPMorgan cautioned it could prompt oil companies to delay investment into the likes of renewable energy. Meanwhile, regulators in the UK said they are set to soon approve Shell’s Jackdaw gas field in the North Sea. Shell also said it is in talks with a consortium of Indian companies to sell a 27.5% stake in the Sakhalin-2 LNG plant in Russia and that is considering offloading its retail and lubricants business in the country following its withdrawal after the invasion of Ukraine.

Rolls Royce has remained popular this week, with Bloomberg reporting that social media postings about the company increased yesterday.

 

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