Sharesight20 January top 20 trades on ASX & NZX
Last year we debuted the Sharesight20 weekly trading snapshots, a weekly update of the top 20 shares traded by the Sharesight userbase on the ASX (#Sharesight20ASX) and the NZX (#Sharesight20NZX) over the previous 7 days.
We’ve since expanded on this with the Sharesight20 monthly trading snapshot (click here for last month’s Sharesight20), where we look at the top 20 trades on both the ASX and NZX markets among the Sharesight userbase during the current month and dig a little deeper into the news behind these movements.
Let’s dive into January’s top trades.
Sharesight20ASX January Snapshot
The top 20 shares traded on the ASX during January are again a mix of resource companies, ETFs, plus a few outliers. The A2 Milk Company regained its most traded share status from the November Sharesight20ASX snapshot after a quiet December trading period where it fell out of December’s Sharesight20ASX entirely.
A2 Milk Company (ASX: A2M)
- A2 Milk was admitted to the S&P/ASX 100 Index effective from December 14th 2017
- A2 Milk announced on January 16th a major expansion in the US North East through a distribution deal with Safeway, H-Mart and Fairway Food that will see its distribution footprint increase from 3,600 stores to 5,000 stores in the United States
- A2Milk’s ASX share price hit an all-time high of $8.40 during trading on January 23rd
Telstra Corporation Ltd (ASX: TLS)
- Telstra CEO Andy Penn at the Consumer Electronics Show (CES) in Las Vegas is reported to see opportunities for the telco in the ‘Internet of Things’ (IoT) as Telstra continues to see revenue slide due to the NBN
- On January 15th Macquarie Group issued a stock downgrade on Telstra ahead of the February reporting season - with the investment bank expecting Telstra to hit what were described as “relatively conservative expectations”
Galaxy Resources (ASX: GXY)
- Announced the appointment to the Board of Directors of the company Ms Florencia Heredia as an independent, Non-Executive Director
- Galaxy Resources shares were one of the top performers on the ASX during the month - up 11% to January 13th
- Announced record production of 52,139 dry metric tonnes (dmt) of lithium concentrate, up 11% on Q3 of FY 2017. Annualised rate of 209,000 dmt tonnes per annum
- Lithium market watchers are concerned a glut of lithium is due to hit the market in 2018 as production ramps up - hitting prices for the commodity
Carsales.com (ASX: CAR)
- Shares fell 5% on January 11th after a broker note from Credit Suisse saw the company downgraded to an ‘underperform’ rating from its previous ‘neutral’ rating
Afterpay Touch Corp (ASX: APT)
Afterpay Touch Corp is fast becoming a darling stock on the ASX with their ‘buy now pay later’ model attractive to consumers making purchases as cost of living pressure mounts on households.
- Shares hit a record high on January 16th after announcing quarterly sales hit $551 million, up from $367 million the previous quarter
- Announced that 11,500 merchants are now on-boarded, up from approximately 8,700 at end of the first-quarter
- Has entered into a strategic partnership with VC firm Matrix Partners through a new share issuance transaction worth A$18.9 million at A$6.51 per share that saw Matrix Partner’s Dana Stalder join the board to overseas Afterpay’s expansion into the US market
Sharesight20NZX January Snapshot
The A2 Milk Company Limited (NZX:A2M)
A2 Milk tops both the Sharesight20ASX and Sharesight20NZX trading snapshots for January which should not come as a surprise after:
- Being admitted to the S&P/NZX 10 index in December alongside inclusion in the S&P/ASX 100 index
Spark New Zealand Limited (NZX: SPK)
- Announced the appointment of Grant McBeath as the interim CEO of the Spark home, mobile and business division - where he has served as general manager of HMB customer channels the last 4 years
Pushpay Holdings (NZX: PPH)
- Hit an all time high on January 3rd
- Reached its target of $100 million in annualised committed monthly revenue (ACMR) ahead of expectations - reaching the milestone by December 2017 ahead of the originally forecast March 2018 target
- Moved the company’s plan to list on US equities markets forward from 2019 to no later than December 31st 2018
Restaurant Brands New Zealand (NZX: RBD)
- Announced the deal struck in October 2017 to buy Pacific Island Restaurants (PIR) - the largest fast-food operator in Hawaii with 82 Taco Bell and Pizza Hut stores has been delayed until February
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