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

Welcome to the May 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, buy and sell trades were strongly led by Tesla (NASDAQ: TSLA), which is preparing to roll out ads for the first time as brand competition continues to grow in the EV sector. Trades were followed by Apple (NASDAQ: AAPL), which has seen its share price near all-time highs. It was a tech-heavy month overall, with 13 of the top 20 stocks belonging to the tech, EV, e-commerce, semiconductor and aerospace industries.

Top 20 US stock trades May 2023

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

Tesla (NASDAQ: TSLA)

• Tesla considering building a gigafactory in England
• Elon Musk says Tesla not immune to tough economy; plans to advertise for the first time
• Tesla rival Nikola faces possible Nasdaq delisting

Apple (NASDAQ: AAPL)

• Apple sales down but iPhone demand persists
• How will Apple’s excess cash impact its shareholders?
• Apple share price nearing all-time high

Amazon (NASDAQ: AMZN)

• Amazon cited as top stock amid rising AI demand
• Amazon stock heading towards best winning streak in almost five years
• ARK Invest’s Cathie Wood says stocks like Amazon at risk of being disrupted by AI

NVIDIA (NASDAQ: NVDA)

• NVIDIA shares rise 20% on record data centre revenue
• Demand for NVIDIA’s H100 chip skyrockets due to success of ChatGPT
• Are AI stocks entering bubble territory?

Meta (NASDAQ: FB)

• Meta competes new round of layoffs, firing 6,000 employees
• Mark Zuckerberg says Meta’s future will have more stability, less bureaucracy
• Meta charged record US$1.3 billion fine due to data privacy breaches

PayPal (NASDAQ: PYPL)

• PayPal has been struggling post-pandemic due to e-commerce slowdown, rising digital payment competition
• PayPal shares plummet following Q1 earnings results
• Pivots strategy towards AI as a cost-cutting measure

Walt Disney (NYSE: DIS)

• Disney stock drops as three-year earnings and shareholder returns keep falling short
• Disney cancels planned US$1 billion Florida office complex
• Shares hit five-year low

Track your investment portfolio with Sharesight

Get access to Sharesight20 insights like this by tracking your investment portfolio with Sharesight. Built for the needs of investors like you:

• Track all your investments in one place, including stocks, mutual/managed funds, property, and even cryptocurrency
• Get the true picture of your investment performance, including the impact of brokerage fees, dividends, and capital gains with Sharesight’s annualised performance calculation methodology
• Run powerful reports built for investors, including performance, portfolio diversity, contribution analysis and future income
• Run tax reports including taxable income (dividends/distributions), capital gains tax (Australia and Canada), traders tax (capital gains for traders in NZ) and FIF foreign investment fund income reports (NZ)

Sign up for a FREE Sharesight account and get started tracking your investments today.

Disclaimer: The above article is for informational purposes only and does not constitute a specific product recommendation, or taxation or financial advice and should not be relied upon as such. While we use reasonable endeavours to keep the information up-to-date, we make no representation that any information is accurate or up-to-date. If you choose to make use of the content in this article, you do so at your own risk. To the extent permitted by law, we do not assume any responsibility or liability arising from or connected with your use or reliance on the content on our site. Please check with your adviser or accountant to obtain the correct advice for your situation.

FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 trades in US stocks by Sharesight users – April 2023