It has been a quieter week on the ASX, and on nabtrade, with the market relatively flat through the week and down 0.7% on Thursday.  

Travel stocks which received a hefty boost from last week’s announcement of fare subsidies from the Federal Government have continued to feature in the most traded stocks. Investors have remained slightly positive on Flight Centre (FLT), but mixed on Qantas (QAN) and have been selling Webjet (WEB). After strong buying through their lows in 2020, and recent strength has given investors a great opportunity to take profits if they are not planning to hold for the long term.

CSL (CSL) dominated trading last week as it fell to lows last seen in the depths of the Covid crisis. Many investors took the opportunity to buy in the $250 range; there is still buying but on thinner volumes as the price has come back above $255.

Fortescue (FMG) remains the standout in the resources sector, with selling on Thursday but buying earlier in the week. The announcement of the company’s commitment to carbon neutrality by 2030 and investment in green hydrogen technology has kept FMG in the headlines this week. Lynas (LYC) remains a popular buy for investors and a popular trade for traders.

Zip Co (Z1P) continues to trade at huge volumes, but has dropped from its most traded stock on nabtrade (replaced by FMG). It remains mixed, with a shift to sells on Thursday after some buying earlier in the week. Afterpay’s (APT) recent share price falls have brought out the bargain hunters, undeterred by CBA’s (CBA) announcement of its entry into the buy now, pay later space. The APT share price has bounced around the $110 mark for the last week, well off its highs.

In financials, the banks have traded on lower volumes than usual, with broadly mixed trading. The exception was Suncorp (SUN), a popular buy on Thursday on a 2.3% price fall.

Outside the usual suspects, Costa Group (CGC) was a sell on Thursday, the first big volumes since reporting season. Stockland (SGP) fell over 2% on Thursday, and was sold off by nabtrade investors. Bard1 Life Sciences (BD1) has been a popular small cap for some months and has risen up the ranks, on broadly mixed volumes. Small resources have also had a resurgence, including new names 88 Energy (88E), Cannindah Resources (CAE) and Renascor Resources (RNU), all actively traded and broadly split 50/50 between buys and sells.

On international markets, Tesla (TSLA) remains the most purchased stock; the strength of Bitcoin (in which the company recently invested billions) has buoyed investors with sells less than 10% of total trades. Controversial data analytics firm Palantir (PLTR) continues to attract interest. It remained flat after its listing in late 2020, rose to a price of $US45, but has fallen back to $25. Chinese electric vehicle manufacturer Nio (NIO.US) continues to attract buyers, as does ARK Innovation (ARKK), the listed investment vehicle from ARK Invest, the hugely successful US fund manager headed by Cathy Wood. Detractors believe Wood’s investment style is typical of a peak in irrational exuberance, but her funds have topped performance tables over the last couple of years.