29 March 2024
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The most traded stocks in Australia and overseas

Gemma Dale
25 June 2021

The ASX200 closed down just 23 points on Thursday, leading the benchmark down over 1% over the past five days. With an increasing number of Covid cases in Sydney, new cases in Victoria and Queensland, and many NSW residents locked out of Victoria, Tasmania, South Australia, Western Australia, the ACT and Queensland just prior to the school holidays, it is not surprising markets are feeling somewhat subdued.

Border closures and increasing cases ordinarily put pressure on travel stocks, but battle-hardened investors are no longer rushing to the exits on such news. Qantas (QAN) was down less than 2% on Thursday, and attracted a small amount of buying, while Flight Centre (FLT) and Webjet (WEB) were largely unmoved and did not crack the top 20 most traded stocks.

The big market news on Thursday was the demerger of Woolworths (WOW) and its drinks business, Endeavour Group (EDV). Casual observers would have been shocked to see the WOW price down as much as 15% during the day, closing down 11% at $37.75, while EDV shares closed the day at $6.02 after opening at $6.50. Existing Woolworths shareholders received one Endeavour Group share for each WOW share held. Nabtrade investors were clearly positive on the transaction, with huge buying in both companies. This follows significant buying in Coles (COL) last week on a strategy update that disappointed the market.

CSL (CSL) continues to attract attention, although as the second most traded stock on Thursday (after WOW), sentiment – and volumes – were mixed. After reaching $305 just days ago (at which point it was a strong sell), the current price of $286.61 (down 2.6% on Thursday) brought out both bargain hunters, seeking a future run up, and those keen to lock in profits and fearful of a return to relatively recent lows of $250. CSL’s price is almost exactly at its price one year ago, while the ASX200 is up nearly 24%. The stock traded on a forward price earnings ratio of more than 65x pre Covid; this is now around 44x.

Zip Co (Z1P) has seen huge volumes all week, with broadly mixed trading on its recent run up. It fell back over 1% on Thursday which led to convincing buys. Afterpay (APT) has also returned to the top 5 as its price has surged from $85 in recent weeks, to $130 this week. Its 6.5% spike on Thursday led to profit taking across the nabtrade client base, although those with memories of $160 are still hanging on.

The banks continue to be traded, albeit with less convincing sentiment. Commonwealth Bank (CBA) was a strong buy under $100 but has been mixed since, while the remainder of the big four were trimmed on strength.

Outside the top 20, Adairs (ADH) was a 97% buy when the price fell 11% on concerns about its Mocka brand.

In international markets, the ‘meme’ stocks continue to attract punters, with GameStop (GME.US) and AMC (AMC.US) Entertainment fans buying small stakes. Tesla (TSLA.US) remains mixed. Luxury goods brand Louis Vuitton Moet Hennessy (LVMH; MOH:DE) found buyers as economic growth continues to rebound despite fears of escalating inflation. Controversial data analysis firm Palantir (PLTR:US) is up 20% over the last month and 160% year on year, and was sold down by investors.

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