While the ASX remains relatively quiet post reporting season, the big news for investors this week was the IPO of Airtasker (ART), which raised capital at 65c a share and closed its first day of trading at $1.05. On Thursday it closed higher again, at $1.35. On its first day of trade, smaller nabtrade investors were keen to buy the so-far profitless company, with average trade sizes of just $5,000; these jumped by 50% on the following day, on huge volumes.

Lynas Corporation (LYC), a popular recent buy, bought out the bargain hunters on Wednesday when its price fell nearly 10% on no news. This was followed by net selling on Thursday as the price remained lower. Australian Strategic Materials (ASM) subsequently announced a capital raising, sparking speculation that this could be to fund its Dubbo Project, to supply rare earths and zirconium.

In addition to the smaller end of the field, the big miners continue to attract attention, with Fortescue (FMG) with net buying through the week on large volumes. BHP (BHP) and Rio Tinto (RIO) were sold off despite a pullback in prices since February’s highs. Newcrest Mining (NCM) was a strong buy as it comes back off recent lows.

CSL (CSL) has been a strong buy over the last month as it fell to below $250, close to its Covid lows and well off its late 2020 highs of $310. Recent strength has led to profit taking from short term holders. A small bounce in Aristocrat Leisure (ALL) has also led to profit taking.

Flight Centre (FLT) continues to attract strong buyers as it has fallen from above $20, and Sydney Airport (SYD) has also seen favour as the price trend turns positive.

Afterpay (APT), the market darling down 30% from its highs above $160, continues to see selling; for most investors this still represents an astonishing profit. The average purchase price for new APT investors on nabtrade in 2020 was around $40. Zip Co (Z1P) remains actively traded, with fewer long-term holders.

On international markets, Volkswagen (VOW.DE) has not edged out Tesla (TSLA) as the most favoured stock, but buyers have added it to their portfolios as it strengthens its electric vehicle proposition. Traditionalists have bought up Warren Buffett’s Berkshire Hathaway Class B shares (BRK.B.US); the class A shares (BRK.A.US) cost $USD387,000 each, adding $510 overnight.