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

Here are October’s top 20 ASX trades.

Sharesight20 top 20 ASX trades October 2020

In October’s Sharesight20ASX snapshot, Zip Co (ASX: Z1P) has topped the buy and sell trades after an eventful month for the company, including a major deal with Visa that will significantly expand the coverage of Zip Pay. At the same time, Zip’s competitor Afterpay (ASX: APT) has struck a deal with Westpac (ASX: WBC), causing the bank to sell its substantial stake in Zip Co. Neobank Douugh (ASX: DOU) also made a splash on the ASX, with its share price skyrocketing by nearly 1000% since listing earlier this month. This made it another popular buy and sell trade for Sharesight users throughout October.

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

Zip Co (ASX: Z1P)

• Zip Co expands coverage with Tap & Zip; Visa integration

• Zip’s Visa deal a sign of cost competition in BNPL industry

• Zip Co has almost doubled its transaction volumes and revenue compared to last year

• Westpac to sell 10% stake in Zip Co after penning deal with Afterpay

• Zip Co acquires fashion search engine The Urge in $8.5 million deal

Douugh (ASX: DOU)

• Neobanker Douugh makes its ASX debut; plans US expansion

• Douugh share price has skyrocketed almost 1000% since IPO

• Douugh claims other neobanks have a "broken business model"

Mesoblast (ASX: MSB)

• Mesoblast’s remestemcel-L drug rejected by FDA

• Mesoblast to treat Covid-19 patients with remestemcel-L

• Market cap shrinks by over 40% following FDA rejection

• Mesoblast facing US lawsuits over "misled investors"

IOUpay (ASX: IOU)

• Fintech company iSentric rebrands to IOUpay (press release)

• IOUpay share price skyrockets in October

• Why IOUpay (formerly iSentric) has thrived during the pandemic

The a2 Milk Company (ASX: A2M)

• Improved purity testing could expand A2 milk market

• Could a2 be banned from trading with China?

Afterpay (ASX: APT)

• Afterpay enters partnership with Westpac, giving users access to banking services

• Afterpay share price rises on the back of Westpac partnership

• Westpac deal a sign of Afterpay’s transition into neobanking

• UBS bearish on Afterpay due to rising regulation risk

Telstra (ASX: TLS)

• Telstra tentatively commits to keeping 16 cent dividend payout

• Telstra launches 5G home internet plan to compete with NBN

• Share price drops 23%; hits multi-year low

BrainChip (ASX: BRN)

• BrainChip extends put option agreement with FDA Capital

• BrainChip launches monthly podcast for shareholders

• Shares were "overbought", says BrainChip CEO

Woodside Petroleum (ASX: WPL)

• Woodside reports 43% drop in Q3 revenue due to Covid-induced oil price cuts

• Woodside to cut 300 direct staff jobs

• Share price is at a 16-year low

CSL (ASX: CSL)

• CSL finalises deal to produce 51 million doses of potential Covid-19 vaccine

• Covid-19 vaccine could be delayed until 2022

• CSL upgrades lower end of Q1 2021 guidance

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FURTHER READING

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• How Sharesight calculates your investment performance

• The top 20 trades made by SMSFs in September 2020