Yahoo Finance The five most traded US stocks by UK and Australian retail investors
Tesla (TSLA) has seized the crown as the most traded US stock by UK and Australian retail investors for the last seven days, according to financial trading app Stake.
Elon Musk’s company has rallied more than 600% in the past 12 months, sending its chief executive’s net worth surging past Amazon’s (AMZN) Jeff Bezos to become the world’s richest man, according to Bloomberg’s Billionaire Index.
His growth in fortune over the past year marks the fastest rise to the top of the rich list in history. Musk’s net worth at the beginning of 2020 was around $27bn (£20bn), placing him just inside the list of the world’s top 50 richest people.
Investment in the electric car company was followed closely by its Chinese rival Nio (NIO) which came in second place across both countries.
However, the US stocks that came in at third, fourth and fifth were different in the UK and Australia.
In the UK FuboTV (FUBO), Bit Digital (BTBT) and XPeng (XPEV) made up the top five most traded US stocks, whereas Churchill Capital (CCIV), Apple (AAPL) and Gamestop (GME) complete the Australian top five.
Matthew Leibowitz, chief executive of Stake, said: “While it may be harder to determine the overall impact that Joe Biden will have on the market during his term, a great way to look ahead is to evaluate his stance on different sectors of the market. Whether that be his stance on green energy, or cannabis, big tech or foreign policy.”
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Leibowitz added that newly inaugurated Biden will impact both the energy industry, as well as the cannabis sector of the market.
Currently only 20% of all energy produced is renewable, so a vacuum of growth in green technology and production companies is expected.
“The US, under president Biden, will undoubtedly shift back to its focus on renewables and re-joins a host of global powerhouses committing to carbon neutrality by 2050,” Leibowitz said.
“Biden’s government has signalled their support for change with a pledge to inject $400bn over the next 10 years in clean energy. The flock to renewable stocks is understandable when the size of the market has suddenly increased so dramatically.”
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