Next Investors logo grey

Top October stock market investments on eToro platform

Published 09-NOV-2020 16:03 P.M.

|

2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.


Click Here to View Latest Articles

Global multi-asset investment platform eToro, which has just launched an insurance scheme that will provide its clients up to AU$1million of protection in the case of insolvency free of charge, has revealed Australian retail investors piled predominantly into high growth industries such as electric vehicle stocks, cloud computing and recent Q3 IPOs in October.

Josh Gilbert, market analyst at eToro, commented on four of the top movers:

Nio Inc. (NYSE: NIO)

Nio replaced Tesla as the most popular electric vehicle stock for Australian investors in October, with its shares skyrocketing over 40 per cent. The Chinese automotive manufacturer has had significant growth in 2020, with an increase of over 722 per cent from January 1st to October 30th. JPMorgan analysts upgraded the price target for the stock to $40 in the middle of October, which was close to double the price at the time of upgrade.

The company's sales are also soaring, with its Q3 vehicle deliveries increased by 154 per cent from the same period last year. And this isn’t expected to stop any time soon, with recent guidance demonstrating that Nio Inc. is looking to continuously expand its production capacity after a recent increase of 11 per cent.

Tesla (NASDAQ: TSLA)

Tesla saw an enormous drop off in trading activity in October, as the world's most valuable automakers growth began to stall. Tesla’s share price fell more than 13 per cent in October and trading activity was down by 58 per cent. This comes after a very positive earnings report, where Tesla saw its fifth straight quarter in profit, as well as exceeded expectations on revenue and EPS. The company delivered 139,300 vehicles in the third quarter of this year, which was a record number for the electric vehicle giant. Although trading activity slumped, it's still clear that many investors are bullish on the stock, as it remained second on the list.

Fastly Inc. (NYSE: FSLY)

Fastly is a US-based cloud computing services provider, which came to market with an IPO last year. Since then, the shares for the company have climbed by almost 210 per cent. However, in October the stock finished down more than 35 per cent after initially surging 31 per cent at the start of the month. The drop in price is likely to be the reason as to why there has been such an impressive increase in trading activity, up 551 per cent from September. The fall in share price can be attributed to an uninspiring earnings report, as it missed expectations on revenues and EPS.

Palantir (NYSE: PLTR)

Palantir managed to squeeze its way into the top 10 stocks for October, after going public at the end of September. The software company that specialises in big data analytics was seen as attractive to investors thanks to its $9 share price and a good valuation, trading at just 14 times its projected revenue. With its share price rising more than 13 per cent in October, investors are clearly seeing Palantir as a long term player, especially with a recent price upgrade from Morgan Stanley analysts to $13 a share.



General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.