Amazon was the top bought US stock by Australians in 2018, Tesla was most sold
The best performing US stock had a return of more than 1300%, according to data by trading app Stake.
Stake, an app which gives Australians access to more than 3000 US stocks and exchange traded funds (ETFs), has revealed online retail giant Amazon was the most bought US stock in 2018 by Australians trading on its platform. Stake surveyed more than 1000 of its Australian users and analysed trading data from the app to reveal interesting trends and trading insights around what we're buying (and selling) in the US and why.
Stake revealed the most bought stocks for the year were tech giants Amazon, Apple, Tesla and Facebook as well as gaming company NVIDIA. But it wasn't any of these popular stocks that performed the best. The highest returning US stock was Tandem Diabetes Care (TNDM), a company which develops medical devices for the treatment of diabetes, with a return of more than 1300% for the year.
Despite all the hype around electric car manufacturer Tesla, the company's shares were the most sold US stock by Australians in 2018. In August this year, founder of Tesla Elon Musk published a controversial tweet on Twitter saying he was considering de-listing Tesla and taking the company private. Shareholders would have the choice of having their shares bought out or staying invested in the private company. According to research by Stake, its users identified this tweet at the craziest market moment in 2018.
Stake users also listed Facebook's $120 billion drop in market value in 24 hours and Apple becoming the first $1 trillion company as the next two craziest market moments for the year. In terms of emerging industry trends, the fintech industry was revealed as the biggest trend that Australian traders were following in 2018, followed by artificial intelligence, cannabis and robotics. Cannabis was made legal in Canada late in the year, hence the spike in interest for cannabis stocks and ETFs.
Stake CEO and co-founder Matt Leibowitz said more than three-quarters of Stake users surveyed started investing in the US for the first time this year. "Fed up with a restrictive ASX and locked out of traditional investment like property, 2018 was definitely the year Aussies opened their eyes to the massive opportunity in the US. It was a huge year for market movements and new IPOs and it's clear that Aussies want to be in the action," said Leibowitz.
Stake launched its app to the App Store in July this year and to the Google Play store a few months later, and now boasts more than 22,000 active users.