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The Motley Fool Australia Stock Market News GameStop (NYSE: GME) dominates US stocks that ASX investors have bought

Sebastian Bowen | 2 February 2021 4:49 pm | More about: CBA AAPL AMZN MSFT TSLA AMC GME NIO PLTR

Most weeks, the Commonwealth Bank of Australia (ASX: CBA) CommSec broker platform tells us the ASX and international stocks (which usually just means US stocks) that are most popular with their Australian clients

CommSec is one of the largest online brokers in the country so this data can be a revealing indicator of investment trends in the Australian market

We already looked at the most popular ASX stocks today Here are the top ten U.S. stocks CommSec customers bought last week.This week’s data is as of March 25th until 29 January

Well, oh my god, what an interesting set of results for the past week. The first thing to note is that the longtime regents of this list are at electric car and battery manufacturers Tesla and Nio for the first time in months They were usurped. They were replaced by GameStop and AMC (time to get the elephant out of the room)

As you may already know, GameStop has been the talking point of the investing world for the past week, powered by a short squeeze orchestrated by WallStreetBets, GameStop stock rose more than 300% last week, sparking a hurricane of investor interest you can read more about the entire saga here, but let’s just say it was no surprise GameStop topped the list

However, the GameStop situation has opened the floodgates for a number of stocks that FOMO-plagued investors have been targeting

AMC (a warring cinema chain), BlackBerry (the warring phone company) and Nokia (see previous company) are unexpectedly on the list again this week, ousting old favorites like Amazoncom Inc (NASDAQ: AMZN) and ARK Innovation ETF (NYSE: ARKK)

There is only one explanation for this: Investors are drinking WallStreetBets Kool-Aid and are hoping for a repeat with these other “Sunset” companies. Nevertheless, investors apparently do not quite have their appetite for US blue chip stocks like Apple and Microsoft lost The more things change, the more they stay the same!

If investment expert Scott Phillips has a stock tip, it may be worth listening to. After all, the Motley Fool Share Advisor’s flagship newsletter, which it has operated for more than eight years, has offered thousands of paying members stock choices that have doubled, tripled or even more has *

Scott just announced what he thinks are the top five ASX stocks that investors can buy right now. These stocks trade at dirt cheap prices, and Scott thinks they are great buys right now

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, serves on the Board of Directors of The Motley Fool Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of the Board of Directors of The Motley Fool Sebastian Bowen owns shares in Tesla The parent company of Motley Fool Australia, Motley Fool Holdings Inc owns shares in and recommends Amazon, Apple, Microsoft and Tesla The parent company of Motley Fool Australia, Motley Fool Holdings Inc owns shares in Palantir Technologies Inc and recommends the following options: long calls in January 2022 for $ 1920 to Amazon and short calls in January 2022 for $ 1940 to Amazon The Motley Fool Australia recommended Amazon and Apple The Motley Fool has a disclosure policy This article contains only general investment advice (under AFSL 400691) Authorized by Bruce Jackson

In this FREE SHARE REPORT, Scott Phillips just revealed what he thinks are the 3 ASX stocks for the post-COVID world that investors should buy now while they still can

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World News – AU – GameStop (NYSE: GME) dominates US stocks that ASX investors have bought