- Nvidia rises from from 4th to 2nd on list of most held stocks amongst eToro users globally
- Hunt for AI winners sees Dell, Broadcom, Micron Technology and MongoDB feature in Q2’s ‘top risers’ list
- eToro users seek European opportunities with Santander and Repsol also amongst top risers
Wednesday 10 July 2024: Retail investors continue to back Nvidia whilst simultaneously casting a wider net in the hunt for AI winners, according to the latest quarterly stocks data from trading and investing platform eToro.
eToro looked at which companies saw the biggest proportionate change in holders, quarter-on-quarter (table 1), while also looking at the 10 most held stocks on the platform (table 2).
Amongst the most held stocks (table 1), Q2 saw another significant shift in the rankings, with Nvidia rising to become the second-most popular stock on the eToro platform, behind only Tesla. The AI market leader ranked fourth at the end of Q1 and seventh three months earlier, but has continued to attract new users, fuelled by another 37% surge in its share price over the latest quarterly period.
Whilst Nvidia is dominating AI headlines, other firms in the space are also attracting attention from investors with several businesses with lofty AI ambitions featuring on the ‘top risers’ list (table 2). This includes Dell, which has seen a 45% increase in the number of holders on the eToro platform. The business has made several AI product announcements in recent times while also being endorsed as a potential supplier for Elon Musk’s new start-up xAI.
Semiconductor chip makers Broadcom (+33% increase in users) and Micron Technology (+27%) also saw significant growth in users on the platform, as did MongoDB (+24%), a business which helps other companies to deploy generative AI.
Continuing the trend which emerged in Q1, several European stocks featured on the top risers list, with French energy firm Air Liquide (+139%) ranking top, as it attracted major interest following news that it will supply energy to semiconductor chipmaker Micron. Santander (+32%) and Spanish energy firm Repsol (+26%)
Commenting on the data, eToro Analyst Sam North, said: “There are diverse opportunities for investors in the AI space and it’s refreshing to see eToro users look across the whole ecosystem. Nvidia’s stratospheric rise means it will continue to take centre stage, but there is no doubt that other big AI winners will emerge in various shapes and sizes.
“It’s also interesting to see that retail investors are looking beyond AI, and more broadly tech, with several European firms across autos, energy and financial services garnering a lot of attention in Q2. It is always important to be diversified across sectors, but particularly so when the interest rate environment is changing. There is also no guarantee that all AI stocks will flourish.”
Amongst the ‘top fallers’ list in Q2 (table 2), it was a mixed bag, with eToro users appearing to cash in on profits from the likes of Reddit (-40%), following its March IPO, and ZIM Shipping (-23%), with the latter’s share price having almost doubled this year. Investors also appeared to lose patience with Puma and its poor share price performance, with the firm seeing a 16% drop in holders on the eToro platform in Q2.
North adds: “In the last quarter, retail investors have demonstrated their ability to capitalise on market momentum, as seen with the success of investments such as Reddit and ZIM shopping. Recognising when to take profits and reinvest elsewhere is a fundamental aspect of smart investing. It’s not just about the gains you make, but also about the opportunities you seize when the market presents them.”
Table 1: Shows stocks most widely held by eToro users globally and their position last quarter
| Company | Ranking at end of Q2 | Ranking at end of Q1 |
| Tesla | 1 | 1 |
| NVIDIA | 2 | 4 |
| Amazon | 3 | 2 |
| Apple | 4 | 3 |
| Nio | 5 | 5 |
| Microsoft | 6 | 6 |
| Meta | 7 | 7 |
| Alphabet | 8 | 9 |
| Alibaba | 9 | 8 |
| PayPal | 10 | 10 |
Table 2: 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 users around the globe | Biggest fallers among eToro’s users around the globe | |||
| Rank | Company | Increase in holders QoQ | Company | Decrease in holders QoQ |
| 1 | Air Liquide | 139% | -40% | |
| 2 | Dell Technologies | 45% | ZIM Shipping Services | -23% |
| 3 | Lululemon Athletica | 42% | PUMA | -16% |
| 4 | Broadcom | 33% | Crocs | -15% |
| 5 | Banco Santander | 32% | Glencore | -15% |
| 6 | Super Micro Computer | 31% | Hasbro | -14% |
| 7 | Atos SE | 28% | Newmont Mining | -13% |
| 8 | Micron Technology | 27% | Delta Air Lines | -13% |
| 9 | Repsol | 26% | NextEra Energy | -13% |
| 10 | MongoDB | 24% | Texas Instruments | -12% |
* ENDS *
Notes to editors
The tables compare data from the eToro platform on the final day of Q2 2024 with the final day of Q1 2024. 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 (Q2 vs Q1). 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 Q2 2024. 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 28th June.
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