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AMC Entertainment, GameStop Corp and Tesla Inc stock in favor as UK investors go global

Electric carmaker Tesla and video games retailer GameStop were the most popular overseas-listed companies in the first half of 2021

Another US earnings season begins this week but interest from across the Atlantic has never been higher, as UK investors have significantly increased their backing of Wall Street stocks over the past year.

At the end of May in 2020, around 4.4% of retail investor assets were held in overseas-listed shares, only up slightly from the 4% a year earlier.

But as of May 2021, this had surged to 10.8% of total assets.

These figures are from AJ Bell, one of the UK’s three largest investment platforms, but numbers from its rivals echo this trend, with US tech giants mixing it with ‘meme stocks’ such as () and Inc () in the best-selling stocks list for the first half of the year.

The reasons for the rise are not certain, but come amid a rise in interest in the stock market from younger investors and dramatic headlines about the meme stocks earlier this year.

“Broadly speaking, international stocks have been generating more interest from UK investors in recent years,” said Laith Khalaf, financial analyst at AJ Bell.

He said in “large part” this interest be put down to the stellar performance, and the familiarity, of some of the big US tech stocks.

“In the last year we’ve also seen the dramatic rise of Tesla shares and the meme investing craze which propelled a couple of US companies into the spotlight.

“Investors tend to focus on their home market when it comes to picking shares and this makes sense as many of the businesses will be well known to them, but until recently the UK had been a laggard amongst international markets and that may also be driving some investors to consider investing overseas.”

In the top 30 lists from the three investment platforms, electric carmaker () and video games retailer GameStop were the most popular overseas-listed companies this year.

Also highly sought after were cinema operator AMC, China-based electric vehicle manufacturer (), Apple Inc () and Amazon.com Inc ().

US earnings season begins with numbers from Inc (), () and () today.

After a first-quarter US earnings season that was widely seen as exceptional, with roughly nine out of every 10 company comfortably beating expectations, Richard Hunter, head of markets at Interactive Investor, said there is “more scope for disappointment rather than positive surprise” in the Q2 numbers.

“The technology sector will be an interesting test of this optimism. Despite some recent share price difficulties resulting from a switch out of growth and into value stocks based on inflationary fears, the Nasdaq has not only regained its ground but has also pushed to new record levels.”

After the banks get things going this week, IBM kicks things off for the tech industry next Monday, followed by others such as () on Tuesday, Intel NYSE:INTC), Snap (SNAP) and Twitter (TWTR) on Thursday, Tesla on Monday the 26 July, before trillion-dollar due Apple and Google parent Alphabet (GOOG) on the following day, and fellow trillion dollar club members Microsoft (MSFT) and Facebook () on Wednesday and Amazon on Thursday.

Top 30 best-selling shares on Interactive Investor so far in 2021 (international co’s in bold)

  1. Rolls Royce Holdings
  2. (IAG)
  3. BP
  4. Glaxosmithkline
  5. ITM Power
  6. Tesla Inc
  7. EasyJet
  8. Vodafone Group
  9. Tui AG
  10. Gamestop Corp
  11. Avacta Group
  12. Cineworld Group
  13. Eurasia Mining
  14. Omega Diagnostics
  15. Greatland Gold
  16. AMC Entertainment Holdings
  17. Novacyt
  18. Legal & General Gp
  19. Tesco
  20. Apple Inc
  21. Ceres Power Hldgs
  22. NIO Inc
  23. Synairgen

Top 30 on AJ Bell

  1. Argo Blockchain
  2. Glaxosmithkline
  3. BP
  4. Lloyds
  5. Rolls Royce
  6. IAG
  7. Gamestop
  8. Unilever
  9. Tesla
  10. Aviva
  11. EasyJet
  12. AMC Entertainment
  13. Vodafone
  14. ITM Power
  15. L&G
  16. Avacta
  17. TUI
  18. Cineworld
  19. Tesco
  20. Barclays
  21. Apple
  22. Carnival
  23. Boohoo
  24. Greatland Gold
  25. Omega Diagnostics
  26. Rio Tinto

Top 30 on Hargreaves Lansdown (in alphabetical order)

  • Amazon.com Inc
  • AMC Entertainment Holdings Inc
  • Apple Inc
  • AstraZeneca plc
  • Aviva plc
  • Barclays plc
  • Boohoo Group plc
  • Carnival plc
  • Ceres Power Holdings
  • easyJet plc
  • Gamestop Corp
  • Glencore plc
  • International Consolidated Airlines Group SA
  • Legal & General Group plc
  • Lloyds Banking Group plc
  • NIO Inc
  • Novacyt
  • Rolls Royce Holdings Plc
  • Royal Dutch Shell
  • Tesla Inc
  • Unilever plc

Before a UK investor can buy US-listed shares, they will need to complete an IRS W-8 form, which can be done online if you are a UK resident and your account is in your individual name. This saves UK investors up to 30% tax on US and Canadian income, and is valid for three years.

Read More: AMC Entertainment, GameStop Corp and Tesla Inc stock in favor as UK investors go global

2021-07-13 08:07:00

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