What Stocks are Saxo Clients Buying and Selling – 8 December

The big single stock stories of last week included Netflix’s deal to buy Warner Bros and Meta’s decision to scale back spending on its loss-making metaverse project.

Netflix announced it will acquire the Warner Bros bit of the Warner Bros. Discovery business, which includes its studio and streaming businesses, for about $83bn.

Clients were actively buying Netflix shares last week with the stock the 6th most traded name and coming with a strong 69% net buy.

As clients bought into the move, Netflix saw one of the biggest positive position shifts last week along with Nvidia and Reddit. Alphabet and Amazon continued to attract strong investor interest along with Nvidia, which claimed the top spot once again as the most actively traded stock.

Meta was our third most traded name after it jumped on reports that the company plans to cut spending on its metaverse-focused division, Reality Labs, by as much as 30%.

BAE Systems was the most traded UK-listed company among our clients with a positive 61% net buys.

Among our most sold names last week was Strategy (formerly MicroStrategy), which has come under a lot of pressure in recent weeks due to the correction in the price of Bitcoin. However, a rally last week seems to have been used by clients to sell into.

Cannabis stock Tilray saw a big position decline after going through a 1-for-10 reverse stock split that failed to ignite the stock. Tesla was among the most traded once more but attracted just 40% buys, signalling investors were trimming positions in the carmaker.

Here’s a list of our top 30 most traded stocks of the last week with the percentage of buys.