Top 20 trades in US stocks by Sharesight users – July 2022

Welcome to the July 2022 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 led by Tesla (NASDAQ: TSLA), which is currently in the process of upgrading its Shanghai giga-factory to boost production. Trades were followed by Apple (NASDAQ: AAPL), which is expected to release its Q3 earnings results this week. Overall, this month’s top 20 trades were dominated by tech stocks, many of which are struggling amid rising inflation.

Top 20 US stock trades July 2022

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

Tesla (NASDAQ: TSLA)

• Tesla facing multiple lawsuits over allegations of poor build quality
• Plans to upgrade Shanghai giga-factory to boost production
• General Motors reveals plan to overtake Tesla sales in the US

Apple (NASDAQ: AAPL)

• Analysts are citing low expectations ahead of Apple’s upcoming quarterly results
• Will Apple’s share price drop following its Q3 earnings announcement?
• Apple’s share price is down 17% this year

Amazon (NASDAQ: AMZN)

• Analysts expect weak earnings ahead of Amazon’s Q2 results
• Amazon share price drops as Walmart warns inflation is eating into its earnings
• Amazon’s share price is down 32% this year

Meta (NASDAQ: FB)

• Meta posts first-ever revenue decline, fuelled by inflation and growing competition
• FTC sues Meta to block acquisition of VR workout app
• Meta plans to raise employee performance targets in a bid to reduce staff numbers

Alibaba (NYSE: BABA)

• Alibaba plans to move its primary listing to Hong Kong
• Fails to hit targets in global expansion plan to rival Amazon
• Plans to invest over US$100 million in Indonesia-listed telco company, Smartfren

Rocket Lab (NASDAQ: RKLB)

• Rocket Lab will supply solar power units for US Space Force satellites
• Plans to create 110 new jobs in New Zealand
• US spy satellite launch on Rocket Lab booster delayed indefinitely

Shopify (NYSE: SHOP)

• Shopify cuts workforce by 10%
• Falls short of Q2 earnings estimates; issues bleak guidance
• Stock rallies despite disappointing earnings report

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FURTHER READING

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• Sharesight users' top 20 trades in US, ASX and NZX stocks – June 2022