Sharesight20 top 20 trades in ASX stocks for 2020

Each year, Sharesight20 looks back at the top 20 buy and sell trades made by Sharesight users throughout the year. Welcome to the 2020 edition of the Sharesight20ASX snapshot, where we explore the top trades users have made in stocks on the ASX this year, plus the market-moving news behind these stocks.

Sharesight20 top 20 ASX stocks traded in 2020

This yearly Sharesight20ASX snapshot saw the rise of buy-now-pay-later (BNPL) stocks Afterpay (ASX: APT) and Zip Co (ASX: Z1P), both of which were bolstered by the growing adoption of BNPL methods driven by Australia's economic downturn and a shift to online shopping amid the COVID-19 pandemic. Traditional blue chip stocks such as the big four banks were also heavily traded by Sharesight users, in a tumultuous year for the firms that resulted in massive fines, plummeting share prices and COVID-related losses.

Overall, it was a challenging year for the ASX, with steep losses during the height of Australia’s lockdown in March. Share prices have since recovered however, with the index trending towards pre-pandemic levels.

Let’s look at the news behind the key stocks in this year’s snapshot:

Zip Co (ASX: Z1P)

• January: Zip Co shares surge following strongest earnings report yet
• February: Afterpay sales double while Zip suffers growing losses
• June: Zip shares skyrocket by 44% following US expansion news
• July: Zip acquires US-based QuadPay as part of global expansion strategy
• August: Zip has a record-breaking Q4
• October: Expands coverage with Tap & Zip; Visa integration
• November: Zip shares rise following announcement of strong FY21 growth figures
• December: Zip raises $120 million for overseas expansion

Afterpay (ASX: APT)

• January: Afterpay rival Klarna launches in Australia
• March: Afterpay shares plummet, losing all gains since mid-2018
• May: Tencent buys 5% stake in Afterpay; share price surges
• July: Afterpay records highest ever quarterly earnings as COVID shutdown encourages online shopping
• August: Afterpay lands $80 million European expansion deal
• September: Share prices sink as Paypal announces BNPL offering, Pay in 4
• October: Afterpay enters partnership with Westpac, giving users access to banking services
• December: RBA rules merchants using BNPL cannot pass fees onto customers

National Australia Bank (ASX: NAB)

• April: NAB seeks $3.5 billion investment from shareholders; reports 51% decrease in half-year profit
• August: Q3 results better than expected for NAB
• October: NAB to add 500 jobs to cope with influx of financial hardship claims
• December: NAB survey shows consumer confidence back to pre-COVID levels

Commonwealth Bank (ASX: CBA)

• May: CBA reserves $1.5 billion to account for COVID-related payment defaults
• June: CBA share price lags compared to the rest of the Big Four
• August: CBA dividend payout better than expected despite profit loss
• September: CBA announces new no-interest credit card to compete with BNPL
• November: CBA shares skyrocket throughout November as investors turn to value stocks

Westpac (ASX: WBC)

• February: Westpac warns more lawsuits and investigations to be expected
• May: Westpac defers dividend due to pandemic, bad loans
• September: Westpac hit with $1.3b money laundering fine; biggest fine in Australian corporate history
• November: Profit drops by two-thirds due to recession and money laundering fine
• December: Westpac vows to bring back proper dividends in 2021

CSL (ASX: CSL)

• July: CSL initiates US Coronavirus vaccine trial
• September: CSL struggling due to COVID-related plasma shortages
• October: CSL finalises deal to produce 51 million doses of potential COVID-19 vaccine
• November: CSL starts manufacturing COVID vaccine, preparing for immediate release
• December: Coronavirus vaccine by UQ and CSL abandoned due to false-positive HIV response

Qantas Airways (ASX: QAN)

• February: Qantas cuts Asian flights; predicts Coronavirus could cost $150m
• June: Qantas to cut 6,000 jobs due to Coronavirus
• August: Qantas suffers $2 billion loss due to pandemic
• November: Qantas CEO declares COVID vaccine mandatory for international travellers
• December: Sydney flights cut as new Coronavirus outbreak causes border closures

Webjet (ASX: WEB)

• March: Webjet withdraws profit guidance due to COVID-19 uncertainty
• April: Webjet launches $346m capital raise to stay afloat during COVID; ends up raising too much money
• September: Webjet CEO sells more than 50% of his shares for $21.2 million

Woodside Petroleum (ASX: WPL)

• January: Woodside approved for $6 billion Senegal project
• July: Woodside puts projects on hold due to struggling oil market
• September: Trouble for Woodside as LNG prices slashed
• October: Woodside reports 43% drop in Q3 revenue due to COVID-induced oil price cuts
• December: Woodside CEO announces 2021 retirement

Macquarie Group (ASX: MQG)

• April: Macquarie pays $3b for 88% stake in data centre operator AirTrunk
• September: Half-year earnings plummet due to COVID
• December: Macquarie acquires US asset management firm for $2.3b

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Disclaimer: The above article is for informational purposes only and does not constitute a product recommendation, or taxation or financial advice and should not be relied upon as such. Always check with your financial adviser or accountant to obtain the correct advice for your situation.

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