Top 20 ASX trades by Sharesight users – September 2023

Welcome to the September 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, buy trades were strongly led by Vanguard’s Australian Shares Index ETF (ASX: VAS), followed by the company’s MSCI Index International Shares ETF (ASX: VGS). In terms of individual stocks, buy trades were led by ResMed (ASX: RMD), which has been heavily targeted by short sellers, causing share prices to plummet. At the same time, sell trades were led by Pilbara Minerals (ASX: PMD), which has become the most shorted stock on the ASX.

Top 20 ASX trades September 2023

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

ResMed (ASX: RMD)

• Leading broker declares ‘strong asymmetric upside risk’ for ResMed; causing shares to jump
• ResMed short selling has increased by 500% since May
• ResMed shares hit new 52-week low

Pilbara Minerals (ASX: PLS)

• Pilbara Minerals now the most shorted stock on the ASX; lithium stocks increasingly targeted
• Pilbara shares down 17% in a month
• Leading broker sees significant upside for ASX lithium stocks, including Pilbara

CSL (ASX: CSL)

• CSL pens deal with UK government to produce flu vaccines
• Share price declines despite UK government deal
• CSL close to hitting new 52-week low

BHP (ASX: BHP)

• BHP receives council approval for 1,100-bed mining camp in Kalgoorlie-Boulder
• Expects to be hit hard by government’s proposed “same job same pay” law
• BHP reports 20% increase in reported sexual harrassment despite spending AU$300 million to increase women’s safety

Macquarie Group (ASX: MQG)

• Macquarie expects weak first half as deal-making slows down
• Macquarie slammed following announcement of cashless branches from 2024
• Shares drop due to concerns over economic headwinds for asset management branch

Fortescue Metals (ASX: FMG)

• Fortescue CEO and CFO step down
• Fortescue loses another executive, marking third executive departure in a week
• New CEO denies staff exodus at Fortescue

Westpac (ASX: WBC)

• ASIC sues Westpac over alleged failure on hardship notices; share price dips
• Leading broker bullish on Westpac shares
• Westpac extends network of bank branches for cash transactions

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FURTHER READING

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• Top 20 ASX trades by Sharesight users – August 2023