Top 20 ASX trades by Sharesight users – May 2023

Welcome to the May 2023 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS). In terms of individual equities, buy trades were led by NAB (ASX: NAB), which saw its share price rise following the announcement of the end of its loan cashback program. At the same time, sell trades were led by Pilbara Minerals (ASX: PLS), which also saw its share price rise following news of Allkem’s mega-merger with Livent. It was a mining and bank-heavy month overall, with 11 of the top 20 trades consisting of stocks in the mining, minerals and banking sectors.

Top 20 ASX trades May 2023

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

NAB (ASX: NAB)

• NAB share price down 11% in 2023

• Share price plummets on expected EPS downgrades

• Share price up as NAB announces end of cashback offers on new and refinanced loans

Pilbara Minerals (ASX: PLS)

• Leading broker forecasts 82% upside for Pilbara shares

• Pilbara shares rise on news of Allkem mega-merger with Livent

• Pilbara CEO assures that China is too dependent on Australia’s lithium to sever ties

Macquarie Group (ASX: MQG)

• Macquarie announces record AU$5.2 billion profit

• Share price down 10% despite strong earnings results

• Analyst forecasts 16% upside for Macquarie shares over next 12 months

Westpac (ASX: WBC)

• Westpac shares jump following announcement of AU$4 billion half-yearly profit

• Leading broker forecasts 20% return for Westpac shares following recent earnings report

• Westpac ends cashback offer on new loans

BHP (ASX: BHP)

• BHP shares hit 6-month low amid plummeting iron ore prices

• BHP claims government-proposed labour-hire policy would cost company AU$1.3 billion annually

• Push for BHP CEO to give evidence in court for Brazil dam disaster

Core Lithium (ASX: CXO)

• Core Lithium share price rises on approval for BP33 underground mine works

• Announces first spodumene concentrate shipment from Finiss Lithium Operations

• Core Lithium could benefit from US critical metals deal

Woodside Energy (ASX: WDS)

• Woodside decries changes to petroleum resource rent tax

• Shares rise as analysts declare Woodside will be largely unscathed by PRRT changes

• Woodside share price rises amid oil price swings

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• Top 20 ASX trades by Sharesight users – April 2023