Top 20 trades in US stocks by Sharesight users – February 2024

Welcome to the February 2024 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, buy and sell trades were led by NVIDIA (NASDAQ: NVDA), which recently announced revenue growth of 265%, sending its share price skyward. The top trades were followed by Tesla (NASDAQ: TSLA), which recently saw its share price sink to a 9-month low. It was a tech-dominated month overall, with 15 of the top 20 stocks belonging to the tech, EV, semiconductor, aerospace and e-commerce sectors.

Top 20 US stock trades February 2024

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

NVIDIA (NASDAQ: NVDA)

• NVIDIA revenue skyrockets 265% due to thriving AI business
• NVIDIA market cap has gained US $1.5 trillion, surpassing FAANG stocks
• Could there be a stock split ahead for NVIDIA?

Tesla (NASDAQ: TSLA)

• Tesla shares sink to 9-month low while rivals gain
• Tesla shares unaffected as Apple cancels electric car project
• Plans to deliver long-delayed Roadster car next year

Apple (NASDAQ: AAPL)

• Apple cancels electric car project after a decade of investment
• Stock rises after Apple ditches EV project
• Announces plan to pour investment into generative AI

Microsoft (NASDAQ: MSFT)

• Microsoft invests US$16 million in Mistral AI
• Increased advertising spend could be a US$50 billion opportunity for Microsoft, says analyst
• Microsoft share price up almost 70% since the beginning of 2023

Amazon (NASDAQ: AMZN)

• Amazon profit jumps amid strong trading season and cloud computing growth
• Founder Jeff Bezos completes share sale plan worth US$8.5 billion
• Amazon joins the Dow Jones index

Meta (NASDAQ: FB)

• Meta exceeds quarterly earnings expectations
• Shares soar as Meta declares first dividend and announces pivot to AI
• Meta CEO meets with Japanese PM to discuss AI

Alibaba (NYSE: BABA)

• Alibaba makes record investment in Moonshot AI
• Share price dives after Alibaba announces suspended IPO plans for two units
• Alibaba approves another US$25 billion in share buybacks as sales sink

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 trades in US stocks by Sharesight users – January 2024