The most popular stocks according to eToro for 2022

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Despite the 2022 sell-off knocking hundreds of billions of dollars from their market worth, retail investors seem to be sticking with large tech stocks, according to the most recent quarterly stock data from social investment network eToro.

Tesla, Amazon, and Apple lead the 20 most popular stocks on the eToro platform at the end of 2022, with no overall change from 2021.

Over the past year, two new companies have joined the top 20 list: Coca-Cola, a well-liked defensive stock that has enjoyed a World Cup sponsorship bounce, and US company Intel, one of the biggest semiconductor chip producers in the world. The healthtech firm Asenus and Richard Branson’s Virgin Galactic, both of which have experienced significant losses this year, have dropped out of the top 20 list.

Commenting on the data, eToro’s Global Market Strategist Ben Laidler, said:

“2022 was an exceptionally poor year for investments, and for some of our users, it would be the biggest bear market that they have experienced. However, we know from our latest Retail Investor Beat that the vast majority of retail investors have long term time horizons, making them resilient to market cycles.

“From what we can see, a lot of retail investors took a ‘wait and see’ position in 2022 rather than change their investment approach. The most popular stocks are still dominated by big tech despite this year’s sell off, but when we look at these names – Apple, Microsoft, Meta, Alphabet – we are talking about giants with fortress balance sheets, structural growth outlooks and now cheaper valuations, which could have encouraged more to buy in. Certainly companies which still deserve a place within a diversified portfolio.”

There was some fluctuation among the other names on the list as well, with the meme stock Gamestop dropping to 11th after a 17% decline in eToro users owning the stock. Additionally, Netflix moved up the list from position 19 to position 14, with the streaming company’s share price rising by 59% in the final half of 2022 after a poor first quarter.

Laidler added: “The two additions to the top 20 list make sense. Intel is well placed to benefit from any easing of the semiconductor downturn, with its industry leadership and now much cheaper valuation, while Coca-Cola’s dominance of the global soft drinks industry has seen it successfully navigate previous recessions.

“It might surprise some that Netflix has moved up several places on the list. We are likely seeing the result of bottom fishing, with retail investors who bought in during the summer months enjoying fairly significant gains since then, with the firm’s management navigating the cost of living crisis with new programming, ad-supported subscriptions and a password-sharing crackdown.”

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