Top 20 trades in US stocks by Sharesight users – March 2023

Welcome to the March 2023 edition of Sharesight’s monthly USA trading snapshot, where we look at Sharesight users’ top 20 trades in US stocks on the Nasdaq, NYSE and NYSE American market (AMEX) over the month.

In this snapshot, trades were strongly led by Tesla (NASDAQ: TSLA), which has produced strong sales results for Q1; followed by Apple (NASDAQ: AAPL), which launched a buy-now-pay-later service in the US. It was a tech-heavy month overall, with 10 of the top 20 trades consisting of stocks in the technology, e-commerce and aerospace sectors.

Top 20 US stock trades March 2023

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

Tesla (NASDAQ: TSLA)

• Tesla’s Australian sales surge despite EV reluctance

• Tesla ranks as fastest-growing automaker in terms of market share

• Broker forecasts 13% upside for Tesla in 2023 following Chinese price cuts

Apple (NASDAQ: AAPL)

• Apple launches BNPL service in the US

• Apple’s biggest supplier sees revenue decline as demand falls

• Tech giants could see "modestly better" earnings, says broker

Amazon (NASDAQ: AMZN)

• Amazon stock struggling amid workforce restructure

• Amazon’s acquisition of AMC is ‘extremely unlikely’ say analysts

• Leading broker sees over 50% upside for Amazon shares

Bank of America (NYSE: BAC)

• Bank of America’s financial planning app attracts US$55 billion over two years

• Plans to reshuffle wealth management and lending employees

• Shakes up leadership team in Germany and Switzerland

Meta (NASDAQ: FB)

• Meta working on new social media app to rival Twitter

• Meta to cut executive bonuses to restore profitability

• Plans to lay off 10,000 employees

Alibaba (NYSE: BABA)

• Alibaba plans to split into six units, triggering mass layoff fears

• Share price rises following announcement of split plans

• Significant upside for Alibaba shares following split, says broker

Rocket Lab (NASDAQ: RKLB)

• Rocket Lab targets US$50 million price for upcoming Neutron rocket

• Share price rises following second successful US launch

• Rocket Lab held 8% of its cash in Silicon Valley Bank

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• Top 20 trades in US stocks by Sharesight users – February 2023