- Big tech dominates list of most held stocks on eToro, with Tesla, Amazon, Apple still top
- Users buy up Credit Suisse, BNP Paribas, BofA following recent bank share price falls
- Airline and autos lose favor with Lufthansa, Porsche and Rolls Royce amongst 10 most sold stocks in Q1
Tuesday 4 April 2023, Retail investors bought the dip in banking shares whilst ditching airlines and autos in Q1, according to the latest quarterly stocks data from social trading and investing platform eToro.
Retail investors also benefited from their continued loyalty to big tech, with the sector staging a partial recovery in 2023.
eToro looked at which companies saw the biggest proportionate change in holders at the end of Q1 2023 versus the end of Q4 2022 (table 1), while also looking at the 10 most widely held stocks on the platform (table 2).
The most widely held stocks were led by Tesla, Amazon and Apple, all of which have seen significant share price improvements this year, with Tesla’s share price up 68% year-to-date. Others in this list include NVIDIA (+90% share price ytd), Meta (+76% share price ytd), which along with Tesla, have been the three best performing stocks in the entire S&P 500 in 2023.
Amongst the 10 ‘biggest risers’, several banks feature on the list, indicating that investors have been attempting to buy the dip following the recent turmoil in the banking sector. The number of global eToro users holding Credit Suisse stock is up 242%, whilst BNP Paribas SA (+36%) and Bank of America (+38%) also saw large increases. Several health-related stocks – a traditional defensive play – also made the list including CVS Health Corp (+68%) and UnitedHealth (+39%).
Commenting on the data, eToro’s Global Market Strategist Ben Laidler, said: “The banking sector has been in turmoil in recent weeks and share prices have been hit, but ultimately we see any lasting impact being limited to a few individual banks rather than the broader system. With this in mind, buying the recent dip in bank share prices may prove to be a good long term play. Even those who jumped into Credit Suisse may ultimately make good, as they now receive UBS shares in the takeover.
“Retail investors have also been rewarded for their loyalty to the big tech titans this year, with share prices starting to recover across the sector, though in many cases still well off previous highs. These tech giants have huge profit margins and strong balance sheets and remain well placed to weather economic difficulties ahead.”
At the other end of the spectrum, airlines and car-makers featured prominently on the list of the 10 most sold stocks in Q1, with Rolls Royce (-14%), Porsche AG (-9%), Lufthansa (-9%), Renault (-8%) and United Airlines (-8%) all included.
Laidler adds: “The airline industry has made up some ground since it was battered by Covid but the recovery has been slow and inconsistent and some investors are possibly deciding that their money can work harder for them elsewhere. Car makers may also be losing their appeal as investors take heed from the wider consumer squeeze happening globally.”
Table 1: Shows which stocks have seen the biggest proportional increase and decrease in holders on the eToro platform quarter on quarter
| Biggest risers among eToro’s global investors | Biggest fallers among eToro’s global investors | |||
| Rank | Company | Increase in holders QoQ as a percentage | Company | Decrease in holders QoQ as a percentage |
| 1 | Credit Suisse Group AG | 242% | Super Hi International Holding Ltd | -27% |
| 2 | CVS Health Corp | 68% | Gaotu Techedu Inc. | -15% |
| 3 | Medical Properties Trust Inc | 51% | Rolls-Royce | -14% |
| 4 | Exela Technologies Inc | 44% | Accelleron Industries Ltd | -12% |
| 5 | Rheinmetall AG | 41% | Salesforce Inc | -11% |
| 6 | UnitedHealth | 39% | Porsche AG | -9% |
| 7 | Bank of America Corp | 38% | Deutsche Lufthansa Aktiengesellschaft | -9% |
| 8 | BNP Paribas | 36% | MercadoLibre | -9% |
| 9 | Bed Bath & Beyond Inc | 35% | Tencent Music Entertainment Group | -8% |
| 10= | Orpea | 34% | FedEx Corporation | -8% |
| 10= | United Airlines Holdings Inc | -8% | ||
| 10= | Renault | -8% | ||
| 10= | SAP SE | -8% | ||
| 10= | Spotify Technologies SA | -8% | ||
Table 2: Shows which stocks are most widely held by eToro users globally and their position last quarter
| Company | Current ranking | Ranking at end of Q4 2022 |
| Tesla Motors, Inc. | 1 | 1 |
| Amazon.com Inc | 2 | 2 |
| Apple | 3 | 3 |
| Nio Inc | 4 | 4 |
| Meta Platforms Inc | 5 | 5 |
| Microsoft | 6 | 6 |
| Alphabet | 7 | 9 |
| Alibaba | 8 | 7 |
| NVIDIA Corporation | 9 | 8 |
| PayPal Holdings | 10 | 10 |
* ENDS *
Notes to editors
The tables compare data from the eToro platform on the final day of Q1 2023 with the final day of Q4 2022. The data refers to funded accounts of eToro users globally.
The data in the first table shows the 10 stocks which have seen the biggest proportional increase and decrease in holders on the eToro platform quarter on quarter (Q1 vs Q4). The data in the second table shows the top 10 most held stocks positions (open positions) by investors on the eToro platform at the end of the Q1 2023. As the vast majority of stocks traded on eToro are the real asset, this data does not include positions held as CFDs.
All data accurate as of after market close on Friday 31st March.
Media contact
PR@etoro.com
About eToro
eToro is a social investment network that empowers people to grow their knowledge and wealth as part of a global community of investors. eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. Today, eToro is a global community of more than 30 million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.
US DISCLAIMER
Securities trading is offered by eToro USA Securities Inc., member of FINRA and SIPC, a self-directed broker-dealer that does not provide recommendations or investment advice. Options involve risk and are not suitable for all investors. Please review Characteristics and Risks of Standardized Options prior to engaging in options trading. Content, research, tools, and stock symbols on eToro’s website are for educational purposes only and do not imply a recommendation or solicitation to engage in any specific investment strategy. All investments involve risk, losses may exceed the amount of principal invested, and past performance does not guarantee future results. Cryptotrading is offered by eToro USA LLC. This entity is not a registered broker-dealer or FINRA member and your cryptocurrency holdings are not FDIC or SIPC insured. Visit our Disclosure Library for additional important disclosures including our Customer Relationship Summary. FINRA Brokercheck © 2023