Sleepless Seohak Ant… Plus only one of the top 10 buys this year
The global stock market shakes. This is attributable to negative factors such as the prolonged war in Ukraine, concerns about inflation, and an increase in US interest rates. Most of the stocks that Seohak Ant bought intensively are also experiencing a downtrend.
According to SEIBro, a securities information portal of the Korea Securities Depository, Tesla was the stock with the highest number of purchases until May 5 this year. It traded at the $1,100 level at the beginning of the year, then fell to the $800-900 range in early May. In addition to interest rate hikes, Tesla CEO Elon Musk sold shares to finance the acquisition of social media company Twitter, fueling the decline.
Nvidia and Alphabet, which are in the top 10 by purchase amount, are also struggling, falling 37.44% and 19.65%, respectively, this year. Nvidia was affected by concerns about a slowdown in demand for graphics cards for PCs and games, and Alphabet’s 1Q earnings fell short of market expectations. In the first quarter of this year, Alphabet’s sales increased 23% year-on-year, but net profit fell 8.3%. Apple and Microsoft also fell 13.87% and 17.15%, respectively, from the beginning of the year to May 5th. Electric vehicle maker Lucid Group fell 53.95%.
ETFs in the top 10 buying list are also underperforming. ‘ProShares UltraPro QQQ (TQQQ)’, the 2nd largest net buyer, caused a 58.09% loss to investors this year. It is a leveraged product that tracks three times the volatility of the Nasdaq 100 Index. ‘Direxion Daily Semiconductor Bull 3X Shares (SOXL)’ recorded a loss rate of 66.73%, and ‘Invesco QQQ Trust (QQQ)’ recorded a loss rate of 22.08%.
‘ProShares UltraPro Short QQQ ETF (SQQQ)’ is the only product that made a profit among the top 10 stocks. It is an ETF that tracks the Nasdaq 100 index three times in reverse.
Experts emphasize that investment strategies should be conservative as there is a high probability that uncertainty will continue for the time being. “It is certain that the US will raise interest rates by 0.5 percentage points each in June and July,” said Heo Jin-wook, an analyst at Samsung Securities. The rate of interest rate hike in September is expected to be between 0.25 and 0.75 percentage points, depending on the direction of future inflation indicators. Market participants are expected to try to estimate the extent of the rate hike in September for the time being. “The financial market may react sensitively to the US inflation and employment indicators to be released over the next one to two months,” he said.
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