The pandemic has presented a unique opportunity for Australians to get a hold of overseas stocks at a better price, and millennials are eagerly getting involved.
Trading platform Nabtrade recorded a whopping 500 per cent uptick in new applicants in March, and the trend continued in April with a 300 per cent increase.
And some stocks in particular are gaining significant traction, new data from trading platform Stake has revealed.
Also read: 4 tips for investing in US shares
Millennials are flocking to cultural stocks like Nike, with shares in the sports apparel brand seeing a 35 per cent upswing in trades since the Michael Jordan documentary, Last Dance, aired on Netflix in May.
Here are the four main stocks Aussies investors aged 26 to 40 are loving right now:
Tesla has been the most-traded stock on Stake for the majority of the lockdown, and has remained in the top five since it began its rally in October last year.
In fact, 5 per cent of all trades on the platform in the last three months have been Tesla, with its volatility being one of the main attractions.
But it’s been popular amongst Aussies for years, according to Stake.
“When Musk installed his battery farm following the South Australian black out in 2017, Tesla became the most traded stock in South Australia overnight and was massively over represented in state-by-state ownership figures,” the company stated.
In the last fiscal year, Stake traders have bought US$9.7 million (AU$13.8 million) worth of Apple shares.
Customer buy volume surged 878 per cent in the nine months after the release of the iPhone 11, and the average trade amount increased from US$1,311 to US$1,764 in the last two years.
“Since the release of the iPhone 11, Stake users have been spending more than double on their average Apple Share purchase ($1452 USD), than the cost of a new iPhone 11 ($699 USD),” the company stated.
And 69 per cent of those traders were millennials.
Stake traders have purchased US$8.9 million in shares in the last fiscal year, with the average share purchasing nearly doubling since US$1,423 in 2018 to US$2,628 now.
When Amazon became the most valuable company in the world in January 2019, trade volume increased by 34 per cent.
Interestingly, in February that year, when Jeff Bezos’ cheating scandal broke, trade volume dropped 10 per cent.
The average age of an Amazon buyer has dropped from 35 to 32 in the last two years, with 68 per cent of traders being millennials.
Netflix has been hugely popular since the pandemic set in.
Following the tightening in Australian lockdown precautions in April, the streaming platform’s trade volume increased by 172 per cent.
Traders on the platform had bought US$4.6 million worth of Netflix shares in the past fiscal year, with the average trade amount nearly tripling from US$1,102 in 2018 to US$3,360 in 2020.
Read next: 4 tips for investing in US shares
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