As the pandemic spurred strong growth in online share investing, Aussie retail investors shown a preference for Musk over miners, writes clancyyeates
in recent years, as investors seek a low-cost way of diversifying their share portfolios.
The electric carmaker - a volatile stock that surged by about 28 per cent this year - was in November ranked 11th in nabtrade’s list of the top holdings on its platform, up from 19th spot a year earlier. Nabtrade director of investor behaviour, Gemma Dale, said the rise of Tesla was in part due to the high profile of its billionaire co-founder and chief executive“People are very attached to him, traders are very attached to him,” Ms Dale said. “In addition to that, there’s a real trend towards ESG [environmental, social and governance] and more future-facing technology in the US,” she said.
Commonwealth Bank-owned CommSec’s review of 2021 this week said ASX-listed telecommunications stocks had enjoyed a bumper year, gaining 25 per cent, followed by property trusts and financials.
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