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

Welcome to the October 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 strongly led by Tesla (NASDAQ: TSLA), which is nearing the deadline for its US$44 billion acquisition of Twitter (NYSE: TWTR). The top trades were followed by Apple (NASDAQ: AAPL), which posted a record revenue of US$90.15 billion, but missed several key targets. It was a strong month for tech stocks overall, with 11 of the top 20 trades belonging to companies in the tech, EV and e-commerce sectors.

Top 20 US stock trades October 2022

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

Tesla (NASDAQ: TSLA)

• Tesla nearing deadline to close Twitter deal or face trial

• Tesla under criminal investigation in the US following self-driving vehicle claims

• Share price hits new 52-week low

Apple (NASDAQ: AAPL)

• Apple share price is down 23% this year

• Apple posts record revenue but misses iPhone sales and services targets

• Share price drops following Q4 results

Alphabet (NASDAQ: GOOGL)

• Alphabet’s Q3 results fall short of analysts’ expectations

• Share price has its worst day since 2020 following weak earnings report

• Analysts cut price targets for Alphabet following Q3 results

Amazon (NASDAQ: AMZN)

• Amazon suffers steep YoY losses

• Share price drops almost 20% on prediction of weak holiday sales

• Amazon warns growing costs may bring down profit

Meta (NASDAQ: FB)

• Meta shares plummet following weak earnings results

• Meta fined US$24.7 million for violating campaign finance disclosure laws

• Investors wipe US$67 billion from Meta’s market value

Intel (NASDAQ: INTC)

• Intel beats lowered expectations for Q3 but slashes outlook for Q4

• Share price rises despite guidance cut

• Intel announces cost-cutting plan including "meaningful number" of layoffs

Coca-Cola (NYSE: KO)

• Coca-Cola’s Q3 earnings beat expectations

• Share price rises following strong Q3 results

• Coca-Cola earnings a good sign for food and beverage stocks

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• Top 20 trades in US stocks by Sharesight users – September 2022