It’s the end of March already, so it’s time to look back on the month and find out which stocks, ETFs and crypto were the most popular among our BUX users.
Just like February, Bitcoin was the most-purchased asset on BUX. Bitcoin started the month with a big drop, but it recovered all the losses (and more!) to end March above $40,000. The cryptocurrency has climbed steadily despite the ongoing geopolitical tensions. In fact, Bitcoin has played an important role in the Russian-Ukraine war, as many have used BTC to make donations.
The Dutch bank ING reported its earnings on February 3rd, and investors were very happy. The bank earned €4.7 billion in 2021, almost double the previous year. As a result, the share prices soared to €13.97, its highest point since April 2018. However, the invasion of Ukraine caused the price to drop back down to €7.91 in March and many BUX users saw an opportunity to buy more, especially in the Netherlands where it was the most-purchased asset in March.
The S&P 500 is an index of the 500 largest companies in the US, and ETFs that track this benchmark index are always popular. Many investors have been buying the ETF since the Ukraine war broke out. In theory, the war harms Europe more than the United States as Europe is more reliant on Russian energy and Ukraine agriculture.
Tourism suffered during the pandemic, and just when it was about to recover, the war in Ukraine broke out. On top of the drama and uncertainty, we also have record-high oil and fuel prices. On February 16th, TUI shares were trading at €3.54, but they plummeted to €2.03 by March 7th. Many investors saw this as a buying opportunity, especially in Germany, where it was the most-purchased stock in March.
Ethereum is a blockchain platform where most blockchain projects are built. It’s also the biggest home of NFTs which have exploded in popularity. Like Bitcoin, the price of Ether has risen steadily over the course of the month.
Apple is one of those companies that is always in the news, because it never disappoints! Sales continue to skyrocket and its market capitalisation continues to grow. The company recently hit a $3 trillion valuation, the first company ever to do so. This month, many BUX users decided to take advantage of a small dip in Apple’s share price due to the Ukraine war. In fact, it was the most-purchased asset in France during March.
7. ABN Amro
ABN Amro is one of the best-known Dutch banks. On February 9th the bank published its earnings report and launched a share buyback plan of up to €500 million. However, the stock still dropped as low as €9.73. ABN Amro’s exposure to the Russia and Ukraine war is quite small, approximately 0.2% – 0.3%.
Tesla has entered our top ten in February and March thanks to the introduction of fractional shares on BUX. Fractional investing makes Tesla’s $1,145 share price much more accessible to the average person. And with the price of gasoline through the roof, investors are once again eying up electric vehicle companies like Tesla. Indeed, on February 24th – the day of Russia’s invasion – Tesla stock was priced at $699. At the end of March it was back above $1,000.
The energy industry is one of the few sectors that has benefited from the war, due to the strong increase in oil and gas prices. Back in December, Shell shares were trading for €18.40 but they ended March around €25. With the price of oil at its highest level in seven years, it’s not surprising that many BUX users have seen this as a buying opportunity lately.
The Franco-Dutch airline announced very good results for the fourth quarter in February. However, that didn’t stop the shares from dropping in March. A large number of BUX users jumped at the chance to buy the dip!
* Period between March 1 and 31, 2022, according to the number of customers who bought the asset. Not all products available on BUX are included in this overview, as some assets are not available to users in France and Germany.
All views, opinions, and analyses in this article should not be read as personal investment advice and individual investors should make their own decisions or seek independent advice. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.