Most traded stocks of the week

We reveal the most traded stocks among our clients over the past week, providing insight into what equities are grabbing the most attention from traders.

Stocks (1)

What are the most traded stocks of the week?

Below is a list of the 20 most traded stocks among StoneX Retail clients during the five trading sessions to the end of play on Thursday January 21. Exchange-Traded Funds (ETFs) have been excluded.

1

Tesla

11

Amazon

2

NVIDIA

12

British American Tobacco

3

Royal Dutch Shell

13

Alibaba

4

Lloyds Banking

14

Adobe Systems

5

Apple

15

Moderna

6

Microsoft

16

Unilever

7

Meta

17

Chevron

8

BP

18

Woolworths

9

Alphabet

19

Novavax

10

Rivian

20

Mastercard

 

The brakes have continued to be applied to electric vehicle stocks since the start of 2022. Tesla, once again the most-traded stock over five trading sessions, has lost over 10% in value over the last week over concerns it will have a tougher time holding top spot in the market as competition intensifies this year. Tesla reports fourth quarter earnings next week. Meanwhile, smaller startup Rivian has plunged over 25% and closed yesterday at $65, below the $78 IPO price when it completed its blockbuster listing last year. The company briefly hit over $179 in the first week after listing to become one of the most valuable automakers in the world. There was news yesterday that one of the company’s biggest shareholders with a 12% stake, Ford, will book an $8.2 billion gain on its investment in Rivian when it releases fourth quarter earnings early next month.

Oil stocks came into play this week as oil prices hit seven-year highs, with Brent surpassing the $87 mark and WTI breaching $85 per barrel before both started to ease today. HSBC raised its target price on Shell this week to 2000p from 1950p while Goldman Sachs was more bullish and bumped-up its target to 2750p from 2600p, with both implying upside from the current share price of 1829p. The same was true for BP, with HSBC having raised its target on the stock to 405p from 365p while Goldman hiked its target to 600p from 550p, compared to its most recent price of 386p. US rival Chevron also had its price target increased with HSBC assigning it a target of $138 and Goldman at $146, above the stock’s last closing price of $128.

Big Tech has continued to lead US markets lower over the past week as they continue to experience a tough time in early 2022 as investors fret about higher interest rates and slower growth. There was also news yesterday that the EU parliament has formed proposals to introduce new rules for US tech giants, highlighting the risk of tighter regulation going forward. The majority of Big Tech stocks including Meta, Alphabet and Amazon have plunged over 5% in the past week, while chipmaker NVIDIA experienced the steepest fall of almost 15%. Software firm Adobe, a new entry this week, bucked the wider selloff in tech stocks by booking a 2.4% gain. The earnings season for Big Tech kicks off next week, with Apple and Microsoft reporting fourth quarter results next week with others following in the weeks after. Microsoft stunned the gaming market this week with news it will buy Activision Blizzard for almost $68 billion in its biggest-ever acquisition, although that has failed to act as a catalyst for the stock.

Vaccine makers remain under the spotlight, with Moderna collapsing 24% over the past week to hit their lowest level since May 2021 while Novavax shares lost almost 29% to hit a two-year low. The primary driver fuelling that fall was the US Supreme Court’s decision to block president Joe Biden’s mandate that would require large businesses to require staff to undergo Covid-19 testing and get vaccinated. Although it supported a similar proposal for healthcare workers, it rejected the wider plan as it believes it was too much of an imposition on the public. Countries are showing increasing signs that they are now trying to live with the virus rather than return to the days of strict lockdown rules, placing an uncertain outlook over demand for jabs going forward as the pandemic eases.

Lloyds Banking Group has given back some of the gains made in early 2022 after losing 6% in the last week, although the UK bank is still in positive territory since the start of the year. The stock, often used as a bellwether for the wider UK economy, saw Morgan Stanley cut its price target this week to 63p from 65p while Credit Suisse raised its target to 70p from 66p, with both implying upside from the current share price of 52p. The UK’s Financial Conduct Authority said yesterday that there are signs that the dominance of the country’s Big Four banks – Lloyds, HSBC, Barclays and NatWest – is finally starting to weaken thanks to innovation in the sector. The digitisation of banking and new rules making it easier for new entrants means a number of new rivals have emerged in recent years. This has seen the number of current accounts held with the Big Four slip to 64% in 2021 from 68% in 2018. There was more positive news out from an independent review commissioned by the finance ministry, which said the capital requirements and ring-fencing rules for the sector’s retail arms are causing unnecessary complexity for the market while having ‘no significant impact on competition’. A review is underway that could see banks given more flexibility.

Sticking with the world of finance, Mastercard shares sit at $364 before the open today after slipping 1.3% over the past week. Cowen & Co cut its price target on the payments giant to $444 from $456 this morning. The firm has partnered with Chase and Instacart this week to help the pair launch an Instacart co-branded credit card later this year, and there was also news that cryptocurrency platform Coinbase will allow users to use Mastercard to pay for purchases made on its upcoming NFT platform. It also launched its new virtual card platform to facilitate B2B payments in the US, with plans to roll it out internationally going forward.

British American Tobacco shares have edged up 2.3% over the last week and hit their highest level since June 2020 at 3,133p yesterday. Jefferies raised its price target on the cigarette maker earlier this week to 3,900p from 3,769p.

Meanwhile, over in Australia, Woolworths shares continued to slide and have lost 1% this week, meaning it has lost almost 10% since the start of 2022 and over 17% since hitting all-time highs of AUD42 last August. The latest leg of the downtrend was initially fuelled by disappointing earnings released last month, with the company describing it as ‘one of the most challenging halves we have experienced in recent memory’ as the pandemic took its toll on the business. It was then pushed lower after announcing it planned to buy Australian Pharmaceutical Industries, or API, in a deal valuing the business at $872 million, before swiftly withdrawing its offer earlier this month.

 

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