Sharesight20 top 20 trades in US stocks – October 2020

Disclaimer: The below article is for informational purposes only and does not constitute a product recommendation, or taxation or financial advice and should not be relied upon as such. Always check with your financial adviser or accountant to obtain the correct advice for your situation.

Welcome to the October 2020 edition of the Sharesight20USA monthly trading snapshot, where we look at Sharesight users’ top 20 trades in US stocks on the Nasdaq, NYSE and AMEX over the month.

Sharesight20 top 20 US stock trades October 2020

In October’s Sharesight20USA snapshot, Nasdaq heavyweights Tesla (TSLA), Apple (AAPL), Amazon (AMZN) and Microsoft (MSFT) led the buy and sell trades, with investors feeling positive ahead of earnings reports for Apple and Amazon, while Microsoft’s share price has remained relatively flat despite its impressive Q1 2021 earnings. The past month also saw many trades on the NYSE, with Nio (NIO), Fastly (FSLY) and Square (SQ) being popular buy and sell trades for Sharesight users.

Let’s look at the news behind the key stocks in this month’s snapshot:

Tesla (NASDAQ: TSLA)

• Tesla confirms plan to spend up to $12b on new electric car and battery factories

• US safety regulator eyes Tesla’s new self-driving technology

• Dispute over Chinese recall of nearly 30,000 Tesla vehicles

• Tesla’s SA battery fully operational; output expanded by 50%

• Tesla’s NSW big battery project expected to accelerate transition to renewables

Apple (NASDAQ: AAPL)

• Investors await release of Apple’s latest earnings report

• Apple share price rises as investors await iPhone reveal

• iPhone reveal fails to impress investors; share price drops by 4%

Amazon.com (NASDAQ: AMZN)

• Analysts bullish on Amazon stock due to expansion and logistics strength

• Amazon stock rises in anticipation of Prime Day

• What should investors expect in Amazon’s Q3 earnings report?

Microsoft Corporation (NASDAQ: MSFT)

• Microsoft reports strong Q1 2021 results: Revenue up by 12%

• Microsoft partners with Adobe and c3.ai to develop Salesforce contender

Nio (NYSE: NIO)

• Nio shares drop as US political woes send stock market into chaos

• Nio to develop its own computing chips for autonomous driving

• Nio stock jumps 26% on bullish JP Morgan report

Fastly (NYSE: FSLY)

• Fastly stock plummets by 37% on lack of spending from TikTok owner ByteDance

• Investors warned off Fastly stock due to TikTok turbulence

Square (NYSE: SQ)

• Square share price surges after company invests $50 million in bitcoin

• What could Square’s bitcoin investment mean for investors?

• Square rival Paypal could surpass Square’s cryptocurrency compatibility

Advanced Micro Devices (NASDAQ: AMD)

• AMD exceeds expectations in Q3 earnings report

• AMD to buy rival chip maker Xilinx in $35 million all-stock deal

• Nasdaq defies stock market downturn, fuelled by AMD

AT&T (NYSE: T)

• Thousands of job cuts at AT&T; more to come

• Speculation that job cuts will hurt, not help, AT&T’s future growth

Zoom Video Communications (NASDAQ: ZM)

• Zoom stock continues to rise as US Coronavirus cases worsen

• Zoom launches end-to-end encryption product for free and paid users

• Executives sell $580 million-worth of Zoom stock

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