Investing

What Are Retail Investors Buying And Selling This Week Amidst Q3 Earnings Season?

Tesla
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With the third quarter earnings season well underway, it is worth considering what stock and ETF investors are buying and selling as the market remains volatile.

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Most bought securities over the last seven days:

Lucid Group (LCID) was the 10th most bought security this week among retail investors. The EV manufacturer produced 2,282 vehicles during the quarter and remained on track to deliver 6,000 to 7,000 vehicles for the full year.

Market Vectors Gulf States ETF (MES) was the 9th most bought security this week.

Snowflake Inc (SNOW) ranked as the 8th most bought stock this week as investors bought ahead  of its third quarter results later this month. The stock rose 13 ranks in popularity and is now the 159th most-held security among retail investors.

Daseke Inc (DSKE) was the 7th most bought security over the week. During the last quarter, the company announced a $40 million share buyback program and told investors they expect revenue growth of 12-15% over the year.

Meta Platforms (META) has been the 6th most bought security this week after falling significantly on a weak earnings report. The stock price continues to trend lower, but the company has risen five ranks in popularity and is now the 99th most-held security by retail investors.

Fontera Energy (FECCF) was the 5th most bought security the week after reporting third quarter results. Company profits continued to rise over 2022, helped by elevated oil and gas prices.

AMC Entertainment (APE) preference shares were the 4th most bought security this week by retail investors. The stock’s wild ride over 2022 continued with significant interest from retail traders. AMC is the second most popular stock with retail investors.

Alphabet Inc (GOOGL) was the third most bought security over the week as the shares fell after reporting third quarter earnings. The stock has underperformed broader US markets, falling 40% over 2022.

Chipotle Mexican Grill (CMG) is the second most bought security by retail investors after reporting third quarter earnings last week that beat bottom-line expectations. CMG has performed in line with the S&P 500 this year.

Apple (AAPL) was the most bought security over the week after reporting a solid Q4 earnings result that beat analyst forecasts. The stock remains down 20% year to date, in line with the S&P 500. The stock rose one rank this week and is the 12th most held security.

Most sold securities over the last seven days:

NVIDIA Corporation (NVDA) was the 10th most sold security over the last week after rallying for most of the past month as the stock bounced off annual lows. NVIDIA has cooled from pandemic highs and has fallen 22 ranks in retail investor popularity. NVDA is the 63rd most held security by retail investors.

Kura Oncology (KURA) has been the 9th most sold security over the past seven days. KURA traded sideways this year with significant month-to-month swings on news flow. Last week the company announced preliminary trial data from a recent trial of Tipifarnib.

SoFi Technologies (SOFI) was the 8th most sold security after reporting third quarter earnings this week. The stock rose more than 20% early this week but quickly fell back to slip below its preannouncement price. SOFI has fallen 15 ranks this week and is retail investors’ 45th most held stock.

Intel Corporation (INTC) was the 7th most sold security this week after reporting third quarter results last week. Intel rose sharply after beating top and bottom line consensus estimates. Gains have been erased this week with the rest of the market, and INTC has fallen six ranks in popularity to the 24th spot.

iShares 20+ Year Treasury Bond ETF (TLT) was the 6th most sold security this week as the ETF continues to trend downward in an inverse trend to rising interest rates.

Tesla (TLSA) was the 5th most sold stock during the week by investors but remained the third most popular security by retail investors.

S&P 500 ETF (SPY) was the 4th most sold security over the week as investors took profits from the rally experienced over the last few weeks.

As retail investors purchased the preference shares, AMC Entertainment (AMC) regular shares were the third most sold security over the week.

Polaris Industries (PII) trended higher last week as the company outperformed Q3 result expectations. This week traders have taken profits, with the stock being the second most sold security. The stock has outperformed broader equity markets over 2022 and pays a 2.55% dividend to investors.

The iShares Russell 2000 Index ETF (IWM) was the most sold security over the week as investors reduced risk to small-cap shares.

This article originally appeared on Fintel

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