In this installment of our analysis of the American investment market, we found that, surprisingly, the overall volume of Americans searching for the ten leading stocks fell by 16 percent month-over-month. Unsurprisingly, Apple reigns supreme as the most popular stock searched on Yahoo Finance for six months straight, accounting for more than a fifth of the top ten stocks searchers in August. Read on for our full analysis of the U.S investment market.
Top ten stocks searched in August 2016
We analyzed U.S. stock ticker searches on Yahoo Finance to identify top-of-mind stocks and MoM trends. First, we found that eight of the ten leading stocks showed decreases in ticker symbol search activity during August. Then, we noticed that the two tickers that increased in search activity MoM had attracted more searchers for very different reasons.
Alibaba saw an 85 percent increase in searches since last month due to the company’s very positive Q2 earnings report which reflected impressive growth and revenue for the quarter. Bristol-Myers Squibb debuted in America’s top ten stocks, but due to bad news: the failure of Opdivo, a new cancer treatment during clinical trials.
What else has changed since last month? Netflix and Yahoo lost their top-of-mind status during August, while Tesla made the cut. Like Alibaba, Tesla joined the list after releasing Q2 earnings in August, but while Alibaba had good news, Elon Musk’s company showed a loss, indicating that quarterly earnings reports, positive or negative, impact public interest in the company as reflected by consumer stock searches.
As for the rest, their positions were merely rearranged in August: Stock searchers swept AT&T from 7th place to 3rd, Amazon dropped three places to 7th, while Bank of America shot up from last to 5th in our 10-symbol ranking.
|#||Stock||% of top 10||MoM change in search activity|
|5||Bank of America||9%||-14%|
August’s top movers and shakers
It is no secret that news drives investor interest. We’ve also found time and time again that quarterly earnings reports is one of the most influential drivers of public interest. But it seems that the love can be short-lived. Take Netflix for example, in July the number of Americans that searched for the company’s stock ticker almost doubled MoM, only to experience a 60 percent drop during August. Yahoo is another example, a month after Yahoo became Verizon’s willing bride, the company’s ticker searches were cut by more than half.
What else? Nvidia exceeded analysts’ revenue expectations and saw its searches increase by 58 percent MoM. And Cisco rose to 11th place in total volume and claimed 7th place for MoM change with a 40 percent increase in search activity, mainly due to the announcement that the company aims to trim its workforce by 7 percent. This just goes to show that for searches, there is no such thing as bad press.
|#||Stock||MoM change in search activity|
Bottom line: August search activity showed significant volatility, with the top ten movers for MoM changes split between big winners and big losers. September’s changes may be larger: Apple announced the iPhone 7, Yahoo disclosed a huge security breach, and Target shook up its online executive team. We will continue to analyze the U.S. stock market to keep you up-to-date with stocks’ current and past search performance, so stay tuned!