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The month ended with the S&P reaching a record high, however there was some stock market volatility in March in response to concerns about the potential for inflation increases, rising bond yields and the collapse of Archegos Capital investment fund.
Let’s take a look at the best performing stocks with TipRanks investors in March.
Top Stocks for March With TipRanks Investors
1. Apple
Apple was the most bought stock of the month. It is also the most held stock by TipRanks investors, and was the most sold in March. Overall 14.4% of all TipRanks portfolios hold stocks in Apple. This increases to 19.3% of the portfolios of the best performing investors.
2. Nio
Chinese Electric Vehicle company Nio was the second most bought stock by TipRanks investors in March. In fact, in the past 30 days there has been an increase of 8.3% of the number of portfolios holding Nio. This drops to a 0.4% increase when only focusing on the best performers. Nio was the third most sold stock in March.
3. Tesla
Analyst consensus for Tesla may be hold, yet investors are buying. Tesla was the third most bought stock by TipRanks investors in March and the second most sold.
Looking more closely at TSLA investors, although the majority are in the 35 and 55 age group, the over 55s was the group that most bought the stock in the past 30 days.
4. Palantir Technologies
Big data analytics company Palantir was the fourth most bought stock in March. Again this goes against analyst consensus which is a moderate sell. Palantir was also the fourth most sold stock last month.
5. Churchill Capital IV
The fifth most bought stock was Churchill Capital IV. The company acquired Lucid Motors in February, however its stock tanked 25% in March, proving popular with TipRanks investors. In fact, the number of portfolios holding CCIV on TipRanks increased by over 40% in the past 30 days.
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