From XU Magazine, 
Online News

Top trades by global Sharesight users — July 2024

July 31, 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-july-2024/

Welcome to the July 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).

You may notice our trading snapshot looks different this month, as we have updated the design and are no longer highlighting the top 20 US trades. Instead, we are presenting the top trades by global investors, regardless of market or asset class, because this better reflects how our user base is actually investing — whether it’s in US markets, non-US markets, stocks, ETFs or even crypto.

Top trades July 2024

Top 20 global trades Jul24

This month’s top trades were led by NVIDIA (NASDAQ: NVDA) which has seen its share price decline throughout July, with many opportunistic Sharesight users buying the dip. The top trades were followed by Tesla (NASDAQ: TSLA), which saw its share price recover throughout the month, buoyed by newfound analyst optimism based on the company’s release of its latest Full Self-Driving software. 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. It should also be noted that the majority of trades are buy trades, suggesting that Sharesight users are taking advantage of the tech downturn and buying these stocks at a discount.

Let’s look at the market-moving news behind some of this month’s top stocks:

NVIDIA (NASDAQ: NVDA)

Tesla (NASDAQ: TSLA)

Microsoft (NASDAQ: MSFT)

  • Microsoft share price drops following latest earnings report; investors concerned about slow cloud business growth
  • Microsoft to reduce kernel-level access for software applications following CrowdStrike incident

Apple (NASDAQ: AAPL)

Amazon (NASDAQ: AMZN)

  • Amazon share price on watch ahead of Q2 earnings; analysts expect gains from eCommerce and cloud business
  • Wall St analysts consider Amazon a “strong buy”

Meta (NASDAQ: FB)

Why leave it there?

To find out more about Sharesight

Straight to your inbox

Subscribe to our newsletter for updates as they happen
We hate spam too. We NEVER sell our mailing list.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.