LONDON, April 6, 2020 /PRNewswire/ -- Despite the dire news headlines, UK retail investors are buying into stocks they feel will weather the storm or even benefit from the crisis, according to new data from investment platform eToro.

Amazon was the most popular stock on the eToro platform in March with a 30% increase in UK investor buys compared with February. Amazon is a perennial favourite with eToro investors and continues to thrive during the outbreak. They recently hired an extra 100,000 staff worldwide to meet increased demand. Streaming service Netflix jumped from 10th to 5th place with a 62% increase in March.

Iqbal V. Gandham, UK Managing Director at eToro, commented: "It's been a tumultuous month for global markets, with value being wiped out across thousands of stocks. Yet our data paints a picture of investors very much in control of their portfolios, making positive decisions about managing the risks and seeking out longer-term opportunities. In fact, they are displaying a sensible and considered approach that seems to be missing from the markets."

New entrants into the top 20 most bought stocks by UK investors on eToro reveal some potential coronavirus beneficiaries. Tesco leapt from 400th to 16th place. Similarly, 3M, whose logo was seen across the TV news as boxes of personal protective equipment were delivered to the NHS, moved to 17th place up from 36th in February. Pharma company Gilead Sciences, which is developing a COVID-19 therapy, rose from 38th to 12th position. Games publisher Activision climbed into the top 20 up from 26th place the previous month. 

Gandham added: "Many retail investors are investing in the companies we are all turning to to help us weather the COVID-19 storm, such as streaming services like Netflix, delivery services like Amazon and supermarkets like Tesco. Let's see if online meeting software providers such as Zoom makes it into the top 20 next month as more of us get used to working from home. For many, the concept of investing is too complicated and opaque. We want to simplify this by getting people to focus on investing in the brands they believe in.

"For any investor, it is important to remember to take a long-term view. Yes, it makes sense for investors to review their portfolios, but the most important thing is for investors not to panic. We are seeing many eToro customers make adjustments and even some additions to their portfolios, because as the old adage says 'the best prices come at the worst times'.".

Notes to editors

The data represents the top most bought stocks by UK investors on the eToro platform in March 2020. Accurate as of 01.04.2020. 

About eToro

eToro was founded in 2007 with the vision of opening up the global markets so that everyone can trade and invest in a simple and transparent way. The eToro Group consists of the eToro platform, our multi-asset trading and investment venue, and eToroX, which manages our crypto wallet and exchange.

The eToro platform enables people to invest in the assets they want, from stocks and commodities to cryptoassets. We are a global community of more than twelve million registered users who share their investment strategies; and anyone can follow the approaches of those who have been the most successful. Due to the simplicity of the platform users can easily buy, hold and sell assets, monitor their portfolio in real time, and transact whenever they want.

Disclaimer:

eToro is regulated in Europe by the Cyprus Securities and Exchange Commission, by the Financial Conduct Authority in the UK and by the Australian Securities and Investments Commission in Australia.

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