Sharesight20 top 20 trades on ASX – November 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 November 2020 edition of the Sharesight20ASX monthly trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

Sharesight20 top 20 ASX trades November 2020

In November’s Sharesight20ASX snapshot, buy trades were dominated by ETFs, with Vanguard Australian Shares (ASX: VAS) and Betashares Nasdaq 100 (ASX: NDQ) strongly favoured by investors. Movements in equities reflected this month’s positive announcements regarding a Covid-19 vaccine, which is already being manufactured by CSL. Flight Centre’s (ASX: FLT) share price shot up following the news, albeit nowhere near pre-Covid levels. Positive consumer sentiment also caused investors to flock to traditional blue chip stocks such as big banks Westpac (ASX: WBC), Commonwealth (ASX: CBA), NAB (ASX: NAB) and ANZ (ASX: ANZ).

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

Flight Centre (ASX: FLT)

• Flight Centre launches $400m capital raise, hoping to bring back investors scared off by Covid

• Flight Centre to use capital raise proceeds to pay off $100m debt

• Global business shows signs of recovery while Australia continues to suffer

• Share price surges following Covid vaccine news

Zip Co (ASX: Z1P)

• Zip shares rise following announcement of strong FY21 growth figures

• Will Zip shares suffer when Affirm enters the Australian BNPL market?

Afterpay (ASX: APT)

• Afterpay’s US sales flat, despite growing customer base

• Afterpay moves to co-CEO model to manage international growth

• Klarna CEO calls Afterpay’s fees an "extortion scheme"; calls for regulation

• One in five BNPL users found to be missing payments

Telstra (ASX: TLS)

• Telstra announces its biggest restructure since privatisation, splitting into three legal entities

• Goldman Sachs bullish on Telstra following restructure announcement

• Telstra to become a renewable energy retailer

Westpac (ASX: WBC)

• Westpac suffers $1.2b earnings blow due to misconduct costs and insurance write-downs

• Westpac was the third most fined bank in the world in 2020

• Reports large profit drop in FY20 results; attributes losses to one-time costs

NextDC (ASX: NXT)

• NextDC upgrades senior debt facilities to $1.85b; plans to focus on key market growth

• NextDC and PCCW Global announce cloud infrastructure collaboration

• Share price falls by 8% following Covid vaccine news

CSL (ASX: CSL)

• CSL to build $800m vaccine manufacturing facility

• CSL starts manufacturing Covid vaccine, preparing for immediate release

• Minimal boost to CSL shares on Covid vaccine news

Qantas (ASX: QAN)

• Qantas CEO declares Covid vaccine mandatory for international travellers

• Australian Qantas staff fight to save thousands of jobs from outsourcing

• Qantas CEO says international travel could resume by early 2021

Commonwealth Bank (ASX: CBA)

• CBA shares skyrocket throughout November as investors turn to value stocks

• CBA CEO says Covid vaccine is good news for banks

• CBA extends deferred mortgage payments until September 2021

Kogan (ASX: KGN)

• Kogan condemned over $80m executive bonuses

• Morningstar bearish on Kogan; says company is overvalued

• Share price grows following announcement of Beam Communications partnership

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FURTHER READING

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• The top 20 trades made by SMSFs in October 2020