Amid the downward slide in Australian and US markets, Selfwealth investor data reveals which sectors and companies are seeing the highest conviction trades.

Most Traded ASX Single Stocks

1. Pilbara Minerals Limited - PLS

2. CSL Limited - CSL

3. BHP Group Limited - BHP

4. Fortescue Metals Group Limited - FMG

5. Macquarie Group Limited - MQG

6. Australia and New Zealand Banking Group Limited - ANZ

7. Qantas Airways Limited - QAN

8. Westpac Banking Corporation - WBC

9. Woodside Energy Group Ltd - WDS

10. Commonwealth Bank of Australia - CBA

11. ResMed Inc. - RMD

12. Core Lithium Ltd - CXO

13. Whitehaven Coal Limited - WHC

14. Syrah Resources Limited - SYR

15. Liontown Resources Limited - LTR

16. Allkem Limited - AKE

17. Mineral Resources Limited - MIN

18. Australian Foundation Investment Company Limited - AFI

19. Bank of Queensland Limited - BOQ

20. Sayona Mining Limited - SYA

Pilbara Minerals (ASX:PLS) was the most traded stock within the Selfwealth community. Even after the company’s CEO said it couldn’t compete with Chinese refiners, and the stock subsequently fell short for the month. While Selfwealth investor conviction was high in terms of trade volume with 67% of their trades being buys, trade value tells a different story as only 49% of all dollars flowing through PLS were sells.

Other popular stocks were CSL (ASX:CSL) in second with a whopping 79% of trades being buys, and BHP (ASX:BHP) with only 51% of trades being buys. For the highly traded BHP, this was on par with September conviction, but far below August’s 69%.

Within top 20 most traded list, Fortescue Metals (ASX:FMG) was sold off the most, with 61% of all trades, and 57% of all dollars flowing from sold shares. This comes amid volatility internally and internationally, and the majority of analysts feeding into Selfwealth’s premium research indicating the stock as either a ‘sell’ or ‘strong sell’.

When it comes to ASX sectors, Selfwealth investors favoured Financials. In order, Commonwealth Bank (ASX:CBA), Westpac (ASX:WBC) and ANZ (ASX:ANZ) rounded out the top four, but the most traded Financial stock belonged to Macquarie (ASX:MQG).

Shares in the Materials sector faced varied investor sentiment. Companies like Mineral Resources Limited (ASX:MIN) were favoured, but the likes of Northern Star Resources (ASX:NST), Rio Tinto (ASX:RIO), and Lynas Rare Earths (ASX:LYC) were sold off.

Most Traded US Single Stocks

1. Tesla, Inc. - TSLA

2. NVIDIA Corporation - NVDA

3. Rivian Automotive, Inc. - RIVN

4. Bank of America Corporation - BAC

5. Apple Inc. - AAPL

6. Microsoft Corporation - MSFT

7. Meta Platforms, Inc. (formerly Facebook, Inc.) - META

8. Amazon.com, Inc. - AMZN

9. Alphabet Inc. (Class C Capital Stock) - GOOG

10. IonQ, Inc. - IONQ

11. Alphabet Inc. (Class A Common Stock) - GOOGL

12. Palantir Technologies Inc. - PLTR

13. Carvana Co. - CVNA

14. PayPal Holdings, Inc. - PYPL

15. Advanced Micro Devices, Inc. - AMD

16. Taiwan Semiconductor Manufacturing Company Limited - TSM

17. Snap Inc. - SNAP

18. GameStop Corp. - GME

19. Morgan Stanley - MS

20. AMC Entertainment Holdings, Inc. - AMC

On US stocks, Keary noted, “We’re observing resilience among Selfwealth’s US investors, particularly with Tesla (NASDAQ: TSLA) maintaining its position as the platform’s preferred stock despite the company’s recent price dip and earnings miss. This kind of robust trading activity, which increased by 80% month-on-month, along with a rising buy-to-sell ratio, is a testament to the confidence our investors have in the EV market’s long-term potential. Similarly, Bank of America’s (NYSE: BAC) performance impressed Selfwealth investors, evidenced by its climb to become the fourth most traded US stock and the significant uptake in buying interest post-earnings.”

Elsewhere in US tech, Rivian (NASDAQ: RIVN) trades surged, even as its valuation fell by a third, following a $1.5 billion bond offering, with investors buying into the dip, and popular ‘Reddit’ stocks like IONQ (NYSE: IONQ), Carvana (NYSE: CVNA), AMC (NYSE: AMC), and Marathon Digital (NASDAQ: MARA) also captured traders’ interest.

Regarding US ETF movement, Keary called out the performance of one fund in particular: “Amid the broader turbulence in the US tech sector, it’s noteworthy that US tech ETFs like Betashares’ Nasdaq 100 ETF (ASX: NDQ), hold their ground as top contenders in our platform’s collective holdings. Our data reflects a forward-thinking investor base that’s keen to engage with dynamic market conditions, reinforcing our commitment to providing a powerful trading environment.”

Looking to the US, Tesla (NASDAQ: TSLA) remained the favourite among traders on Selfwealth.