Thursday, 13 December 2018 10:32

Australians turn to US fintech, tech stocks in 2018


Amazon was the most purchased stock by Australians on the US stock market in 2018, with many Aussie investors indicating they had turned to US trading in fintech stocks due to being increasingly limited to traditional industries like mining and banking on the Australian market.

According to new data from Australian trading platform Stake, 2018 was the year Aussies started trading the $31 trillion US stock market, drawn in by emerging industries like fintech and the big tech power players, with Amazon the most purchased stock for the year.

More than three quarters (78%) of over 1000 respondents to a survey by Stake said 2018 was the year they started trading US stocks, with more Aussies “claiming their slice of the pie when it comes to the world’s biggest and boldest companies”.

Almost 8 in 10 (76%) Australians said the reason for doing so was easy access, with Stake launching its mobile app and lowering its minimum investment from A$500 to A$50 – claimed as an Australian first.

“With options for trading on the ASX increasingly limited to traditional industries like mining and banking, Aussie investors turned to the US to access emerging sectors. Fintech (27%), AI (26%), and pot stocks (22%) were the top emerging industries respondents paid the most attention to in 2018,” Stake says.

“But what’s most interesting is what Aussies did with newfound ease of access to the world’s biggest and most vibrant stock market.”

Stake data – how Australians traded in 2018:

  • Amazon (AMZN) was the top bought stock and Tesla (TSLA) was the top sold stock across Australia in 2018;
  • The highest returning stock of the year was Tandem Diabetes Care (TNDM), with a +1300% return;
  • The most bought stocks of the year were Amazon, Apple, Tesla, Facebook and NVIDIA;
  • The top stocks bought by male traders across 2018 were: Amazon (AMZN), Apple (AAPL), Tesla (TSLA), Facebook (FB), and NVIDIA (NVDA); and
  • The top stocks bought by female traders across 2018 were: Amazon (AMZN), Tesla (TSLA), Apple (AAPL), Facebook (FB), and Square (SQ).

How Aussies reacted in 2018:

  • Fintech (27%) was the emerging industry respondents paid the most attention to in 2018, followed by AI (26%), pot stocks (22%), robotics (10%), and biopharma (10%);
  • Elon Musk’s tweet about taking Tesla private was listed as the craziest market moment in 2018 (41%), followed by Facebook’s $120 billion drop in market value in 24 hours (37%), and Apple becoming the first $1 trillion company (25%);
  • Facebookchief executive Mark Zuckerberg was listed as the person Aussies thought were in the deepest sh*t at the end of 2018 (42%), followed by US President Donald Trump (31%), Tesla Motors chief executive Elon Musk (18%), and chief executive Liu Qiangdong; and
  • Easy access was the most popular reason Aussies started investing in the US in 2018 (76%), followed by getting their money working harder than it does in a bank account (41%), low investment minimums (32%), inaccessibility of the property market (26%), and disenfranchisement with the ASX (15%).

“Fed up with a restrictive ASX and locked out of traditional investment like property, 2018 was definitely the year Aussies opened their eyes to the massive opportunity in the US. It was a huge year for market movements and new IPOs and it’s clear that Aussies want to be in the action,” Stakechief executive and co-founder Matt Leibowitz said.

"[The year] 2018 was also the year Stake really drove home its mission to break down barriers, democratise trading, and give every Aussie the opportunity to get their money working harder through the world's biggest stock market. We’ve now got 22,000 users taking advantage of low-cost, simple direct access to the US market."

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Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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