- Extended hours trading volumes up 88% for the six ‘Mag 7’ stocks to have reported so far in Q2
- Extended hours activity for Meta 416% higher in April vs January, whilst Apple rose 269%
- Nvidia – which reports Q1 earnings next week – has previously generated twice as much extended hours activity as all other Mag 7 stocks combined
16 May, London – The latest earnings season has seen extended hours trading activity for ‘Magnificent 7’ stocks surge by as much as 400% on the trading and investing platform eToro.
eToro compared the total volume of out-of-hours activity in January’s earnings season versus the current earnings period, looking at six of the Magnificent 7 who have reported so far in Q2. Combined, across the six to have reported in Q2 (Apple, Amazon, Meta, Microsoft, Tesla, Alphabet), extended hours activity was up 88%. Volumes of trading activity were compared looking solely at the actual day on which results were reported.
Trading volumes for Meta were 416% higher for its Q2 earnings vs Q1, whilst Apple activity was up 269%. Alphabet (+79%), Amazon (+57%) and Tesla (+41%) also saw significant upticks in extended hours trading around their latest results announcements, whilst Microsoft was the only firm to see a drop-off (-16%).
The only Magnificent 7 firm yet to report during this latest earnings season is Nvidia, which thanks to its phenomenal share price gains in the last year, generated almost double the extended hours activity of all other Magnificent 7 stocks combined in Q1.
Ben Laidler, Global Markets Strategist at eToro said: “Trading in the extended hours has been led by the growth of retail investors as most have day jobs. Given retail investors’ affinity for US tech stocks, and the increasingly global nature of this investing cohort, it’s unsurprising that we’re seeing increased appetite for these stocks in particular, outside of the usual US market hours.
“The Mag 7 have dominated both the market performance and profits recovery over the last year or so, making the out-of-hours earnings reports and management conference calls of these seven companies crucial focal points for markets and investors, and naturally driving higher trading volumes.
“Those getting to grips with extended hours trading may be a step ahead, as the long-term returns from trading the S&P 500 overnight have been four times as high as during the better known day session.”
The highest volume of extended hours trading activity on the eToro platform was seen in the UK, which generated more than double the volume of second-ranked country, Germany. The feature is also popular in Spain, France and the UAE.
ENDS
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