Semiconductor stocks saw strong interest on Selfwealth platform in August, including Nvidia\u00a0
\nAmazon, Alphabet, and Microsoft faced share price dips but saw increased trading during month
\nDespite a volatile August for cryptocurrencies bitcoin-related ETFs gained significant money flow<\/p>\n
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Investors took advantage of the August sell-off and fears of a US recession to buy up one of the Nasdaq\u2019s hottest stocks of the year with trading platform SelfWealth (ASX:SWF)<\/strong><\/a> reporting that trades in semiconductor giant Nvidia (NASDAQ:NVDA) rose 155% over the month.<\/p>\n Selfwealth said Nvidia was largely supported by a wave of buying activity with more than seven out of every 10 trades buys.<\/p>\n August was a volatile month of trading for the company and US markets in general with fears of a US recession rattling investors.<\/p>\n Nvidia shares fell more than 15% for the month, amid a tech-led sell-off, before the stock rallied more than 30%.<\/p>\n The collective value of Nvidia shares traded in August across the Selfwealth platform exceeded $200m, which was up more than 10-fold compared with the result from July.<\/p>\n Selfwealth said this was among the highest ever monthly figures on the platform for any stock, be it ASX-listed or US-listed.<\/p>\n \u00a0<\/p>\n Source: Selfwealth<\/p>\n \u00a0<\/p>\n Selfwealth said the buy-up of Nvidia stocks in August was part of a broader interest in chip stocks among traders on its platform, which while moderating over recent months remained strong.<\/p>\n Other than well-known Nvidia, shares such as Advanced Micro Devices (NASDAQ:AMD), Intel (NASDAQ:INTC), Super Micro Computer (NASDAQ:SMCI), Micron Technology (NASDAQ:MU), Taiwan Semiconductor Manufacturing (NYSE:TSM), and Qualcomm (NASDAQ:QCOM) were all among the most actively traded US stocks.<\/p>\n \u201cEach of these commanded a strong buy-to-sell ratio, indicating broad-based investor support for semiconductor stocks,\u201d Selfwealth said.<\/p>\n \u201cThis cohort of shares saw a moderation in trading activity over preceding months as the AI trade showed signs of unwinding but the sudden resurgence in market volatility at the start of August prompted a new round of buying support amid segment weakness.<\/p>\n Selfwealth said there was also a lift in trading activity for related ETFs, including Direxion Daily Semiconductor Bull 3X Shares (NYSE:SOXL) and GraniteShares 2x Long NVDA Daily ETF (NASDAQ:NVDL).<\/p>\n Selfwealth said with the tech sector at the heart of the August pullback other tech giants including Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL), and Microsoft (NASDAQ:MSFT) saw monthly trade volumes up 35.6%, 68.4%, and 39.5% respectively.<\/p>\n \u201cBuying conviction remained strong, even as the three shares posted share price declines,\u201d Selfwealth said.<\/p>\n Still on tech and a competitor to Elon Musk\u2019s Space X, AST SpaceMobile (NASDAQ:ASTS) featured among the most traded Selfwealth shares for the first time, with nearly two-thirds of all trades linked to buying activity.<\/p>\n The satellite designer and manufacturer recently announced the commercial launch of its satellite network<\/a> in low-Earth orbit.<\/p>\n \u00a0<\/p>\n Source: Selfwealth<\/p>\n \u00a0<\/p>\n Selfwealth said another interesting trend in August was Bitcoin-related ETFs gaining significant money flow including ProShares UltraShort Bitcoin ETF (NYSE:SBIT) and the ProShares Ultra Bitcoin ETF (NYSE:BITU).<\/p>\n Similar to equities, the leading cryptocurrency experienced a volatile August as risk-off sentiment dominated. Bitcoin initially plunged in value, before recovering some losses, but still ended August down about 10%.<\/p>\n Selfwealth said both bullish and bearish cases for Bitcoin saw increased trading activity throughout August.<\/p>\n At the time of writing, however, it\u2019s worth noting that Bitcoin is up more than 9% for the month of September, which, historically is more often than not a bearish month for the no. 1 cryptocurrency.<\/p>\n \u00a0<\/p>\n NASDAQ:TSLA), Nvidia, Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOG) are the top five held US shares on the Selfwealth platform.<\/p>\n Selfwealth said Warren Buffett\u2019s Berkshire Hathaway (NYSE:BRK), in eighth position on its most held stock list, recorded its second consecutive month where the collective value of holdings on the platform rose by double digits.<\/p>\n Growth in August was 10.3%, which followed a reading of 11% in July. BRK\u2019s underlying share price rose 8.5% through the month with more than 75% of trades in the stock last month recorded as buys.<\/p>\n Selfwealth said provider of data analytics and AI software Palantir (NYSE:PLTR) had its third straight month of growth and is now ranked 11th among US securities on the Selfwealth platform, as measured by the value of all holdings.<\/p>\n The company delivered a strong earnings report, which showed quarterly revenue growth accelerating on the back of a surge in deals with commercial customers.<\/p>\n With contrasting share price performances across the month, Selfwealth said GameStop (NYSE:GME) and Bitcoin-focused MicroStrategy (NASDAQ:MSTR) swapped places in 13th and 15th positions respectively.<\/p>\n Semiconductor foundry Taiwan Semiconductor Manufacturing (NYSE:TSM) rejoined its top 20 after a brief absence with renewed interest in chip stocks.<\/p>\n \u00a0<\/p>\n The post Buyers seized hot-stock Nvidia opportunity in volatile August: Selfwealth<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Interest remains in chip stocks<\/h2>\n
Bitcoin-related ETFs gain interest<\/h2>\n
Most-held US shares<\/h2>\n