- Meme stock Bed Bath & Beyond saw biggest proportionate jump in users in Q3 (+182%)
- Twitter saw biggest proportionate fall (-14%) following collapse of Elon Musk takeover
- Tesla, Amazon, and Apple remain the most widely held stocks on the platform
4 October 2022 – Retail investors bought ‘old economy’ stocks such as mining and oil firms in Q3, whilst keeping faith in big tech stalwarts such as Amazon and Microsoft, according to the latest quarterly stocks data from social investing network eToro.
eToro looked at which companies saw the biggest proportionate increase and decrease in holders at the end of Q3 versus the end of Q2. It also looked at the most widely held stocks on the platform, a list which is still dominated by big tech despite this year’s sell off.
The company which saw the biggest increase in holders (as a proportion) was meme stock Bed Bath & Beyond, rising 182%, after its share price rocketed in August before falling away again. The company was also the second most shorted stock on the eToro platform this year, indicating healthy disagreement amongst investors on the latest meme stock favourite.
The rest of the ‘biggest risers’ list included several old economy oil and mining stocks, with petroleum firms Occidental Petroleum Corp and TotalEnergies SE seeing a 30% and 23% rise (respectively) in holders, while US oil giant Chevron (+11%) and miners Rio Tinto (+19%) and Barrick Gold (+13%) all attracted more investors.
Retail investors also looked to ‘buy the dip’ in Q3, with FedEx (+25%), Chinese EV firm XPeng (+23%) and Cineworld (+14%) making the top risers list. All three companies have seen huge falls in their share price this year.
The biggest faller in Q3 was Twitter, with a 14% drop following the collapse of the Elon Musk takeover. Disruptive tech-focused firms like Netflix (-10%), Draftkings (-6%) and Roblox (-7%) also fell, as did solar energy companies Canadian Solar (-10%), Enphase Energy (-6%) and SunPower (-5%).
Commenting on the data, eToro’s Global Market Strategist Ben Laidler, said: “While clearly looking for opportunities to buy the dip in Q3, retail investors also took a more defensive stance, diversifying into old economy industries such as energy and mining. This came at the expense of ‘riskier’ disruptive tech stocks, particularly solar power companies, with four gracing the top fallers list. Some retail investors appear to be prioritizing income and growth today over sustainability, as they face the cost of living crisis and rising interest rates.”
The last quarter also saw several meme stocks enter the top fallers list, with Gamestop (-5%), Blackberry (-5%) and Nokia (-5%) all losing some favour with eToro users.
The list of the most popular stocks among eToro investors (see Table 2 below) remains dominated by big tech and is unchanged from the previous quarter, with Tesla, Amazon and Apple the most widely held companies on the platform.
Laidler adds: “By keeping faith with the established tech titans like Amazon and Microsoft, DIY investors are increasingly focusing on company profits and cash flows today rather than the promises of riskier tech-led growth tomorrow. There is clearly a feeling that these tech giants, with their high profit margins and fortress balance sheets, can weather any recession. This is a sensible view with inflation high, economic growth spluttering, and markets increasingly unforgiving.”
Table 1: Shows which stocks have seen the biggest proportional increase and decrease in holders on the eToro platform quarter on quarter
| Rank | Biggest risers among eToro’s global investors | Biggest fallers among eToro’s global investors | ||
| Company | Increase in holders QoQ as a percentage | Company | Decrease in holders QoQ as a percentage | |
| 1 | Bed Bath & Beyond Inc | 182% | -14% | |
| 2 | Porsche Automobil Holding SE | 32% | Canadian Solar Inc. | -10% |
| 3 | Occidental Petroleum Corp | 30% | Netflix, Inc. | -10% |
| 4 | FedEx Corporation | 25% | Globalstar | -9% |
| 5 | TotalEnergies SE | 23% | Roblox Corp. | -7% |
| 6 | XPeng Inc ADR | 23% | Valneva SE | -7% |
| 7 | Alphabet Inc Class A | 21% | Draftkings Inc | -6% |
| 8 | BYD Co Ltd | 21% | Robinhood Markets Inc. | -6% |
| 9 | Toughbuilt Industries Inc | 21% | Enphase Energy Inc. | -6% |
| 10 | Rio Tinto | 19% | GameStop Corp. | -5% |
| 11 | Arrival | 17% | SunPower Corp | -5% |
| 12 | BASF SE | 15% | Sunrun Inc. | -5% |
| 13 | Cineworld Group PLC | 14% | Corsair Gaming Inc | -5% |
| 14 | Altria Group Inc | 14% | BlackBerry Limited | -5% |
| 15 | Adidas AG | 13% | Nokia Oyj | -5% |
| 16 | Barrick Gold | 13% | Starbucks Corporation | -4% |
| 17 | Intel | 12% | LVMH Moet Hennessy Louis Vuitton SA | -4% |
| 18 | Chevron | 11% | JD.com | -4% |
| 19 | Coca-Cola | 11% | Unilever | -4% |
| 20 | Samsung Electronics Co Ltd | 11% | CRISPR Therapeutics AG | -4% |
*To note, only the top 10% of companies on eToro by number of holders were considered
Table 2: Shows which stocks are most widely held on eToro globally and their position last quarter
| Q3 2022 rank | Most held stocks on eToro globally | Q2 2022 rank |
| 1 | Tesla Motors, Inc. | 1 |
| 2 | Amazon.com Inc | 2 |
| 3 | Apple | 3 |
| 4 | Nio Inc. | 4 |
| 5 | Meta Platforms Inc | 5 |
| 6 | Alibaba | 6 |
| 7 | Microsoft | 7 |
| 8 | NVIDIA Corporation | 8 |
| 9 | Alphabet | 9 |
| 10 | PayPal Holdings | 10 |
**ENDS**
Notes to editors
The tables compare data from the eToro platform on the final day of Q3 with the final day of Q2. The data refers to funded accounts of eToro users globally.
The data in the first table shows the 20 stocks which have seen the biggest proportional increase and decrease in holders on the eToro platform quarter on quarter (Q2 vs Q3). Only the top 10% of companies, in terms of popularity, were considered. This allowed us to avoid the inclusion of small companies that might skew the results.
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 Q3 2022. 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 30th September.
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