What Stocks are Saxo Clients Buying and Selling – 18 August

We’ve seen the usual buying activity in big tech names such as Nvidia, Amazon, Microsoft, Palantir and Tesla over the last week.

But I want to draw attention to 6 stocks we’ve seen the largest position changes in the last few days 

First up is BitMine Immersion Technologies, which soared about 40% last week though it’s still way down from its July peak after a crazy rally at the start of last month saw it hit $161. It’s an Ethereum-focused crypto holding company that has ridden the crypto wave this year. The latest rally came as the company announced it will issue $20 billion in new stock to uy more Ethereum.

Next, Palo Alto Networks, which clients have been picking up on some weakness in the stock ahead of earnings due after the closing bell tonight (Monday, 18 August). It’s the world’s largest cybersecurity vendor but has to keep pace with the incredible innovation around AI to maintain its place.

Third on the list is Rolls-Royce with the company continuing its ascent on investor enthusiasm around increased defence spending, growing aerospace demand and hopes for its small nuclear reactors which the CEO thinks could see the company become the UK’s most valuable.

Sharplink Gaming – another Ethereum holding company – was also one of the more popular names bought by clients in the last week as it raised more capital for its ETH treasury strategy.

Eli Lilly comes in at number 5 having been sold off sharply in the wake of disappointing trial results from its obesity pill – clients snapping up the shares on weakness.

Finally, UnitedHealth caught some bid from clients with stock trading down about 50% this year. They’re in good company – Warren Buffett revealed a new stake in the company last week.

Clients trimmed positions in Alphabet and Salesforce.