Top 20 ASX trades by Sharesight users – August 2021

Welcome to the August 2021 edition of Sharesight’s monthly ASX trading snapshot, where we look at the top 20 trades Sharesight users made on the ASX during the month.

In this snapshot, buy trades were led by Vanguard’s Australian Shares Index (ASX: VAS) and International Shares (ASX: VGS) ETFs. At the same time, sell trades were led by Afterpay (ASX: APT), which has accepted a US$29b takeover bid by US BNPL giant Square. Sell trades were followed by Fortescue Metals (ASX: FMG), which saw its share price plummet in August due to low iron ore prices. Overall, this month’s top trades were largely composed of mining companies, with many miners involved in lucrative deals, new projects or allegations of misconduct.

Top 20 ASX trades August 2021

Let’s look at the news behind some of the key stocks in this month’s snapshot:

Fortescue Metals (ASX: FMG)

• Fortescue share price plummets over 20% in August
• Iron ore price recovery only temporary, say forecasters
• Fortescue to initiate new renewables projects in PNG

BHP (ASX: BHP)

• BHP faces S&P downgrade due to lack of diversification
• BHP to move oil and gas assets into Woodside Petroleum
• Shareholders fret over BHP-Woodside merger

Afterpay (ASX: APT)

• Afterpay losses grow by almost 700% in latest financial results
• Square to buy Afterpay in US$29b deal
• Share price skyrockets 35% in August

Zip Co (ASX: Z1P)

• Zip records huge FY21 losses due to global expansion
• Share price plummets by 150% following FY21 results
• Share price surges following announcement of Afterpay’s takeover by Square

Commonwealth Bank (ASX: CBA)

• CBA continues with BNPL launch; reports 86,000 customers pre-registered
• Share price gains on opening of CBA vaccination centres
• CBA shares overpriced, say analysts

Rio Tinto (ASX: RIO)

• Rio accused of almost AU$400m in underpayments to Traditional Owners
• Share price drops as Rio begins trading ex-dividend
• Rio resumes South African operations after ‘security situation stabilised’

Woodside Petroleum (ASX: WPL)

• Woodside share price struggles throughout August
• Rumours of upcoming job cuts due to new cost-cutting measures
• Are Woodside shareholders at risk in the 2020s?

Lynas Rare Earths (ASX: LYC)

• Activists challenge Lynas’ Malaysian operating license; miner must find another place to store radioactive waste
• Lynas on target with AU$500m Kalgoorlie rare earth processing facility project
• Lynas pens deal with BHP to secure sulphuric acid supply for WA projects

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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.

FURTHER READING

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• How Sharesight calculates your investment performance
• Top 20 ASX trades by Sharesight users – July 2021