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Trending: Our 20 Most Searched Stocks During Q3 2018
Following our Q2 report, we set out to review your most trending stocks during Q3 and once again found some interesting stories, with many a big player dropping below the top 20, and some newcomers to the list which surprised us. In addition to FAANG and other tech stocks, our users seemed to focus on the growing cannabis industry.
Q3’s most interesting surprises were stocks from the budding cannabis industry. In Q3 we saw 5 canna-stocks get a huge amount of interest (with a sixth stock just barely joining in the list #23). The 2 other newcomers were a pharmaceutical company with a successful clinical trial, and a Chinese electric vehicles manufacturer who IPO’d.
Some of last quarter’s most-searched stocks slipped down the list, such as Micron Technology Inc (NASDAQ:MU), which dropped from #1 to #13, Netflix Inc (NASDAQ:NFLX) went from 3rd place to #11, General Electric Company (NYSE:GE) dropped 5 places to #9, and Bank of America got pushed from #9 to the bottom of the list at #20.
Other stocks dropped out of the top-20 completely, such as iQIYI Inc (NASDAQ:IQ), Jd.Com Inc Adr (NASDAQ:JD), Twitter Inc (NYSE:TWTR) and Alphabet Inc (NASDAQ:GOOG).
As Tesla Inc (NASDAQ:TSLA) reigns as the most-searched stock of the quarter, a Chinese electric automobile manufacturer - NIO Inc (NYSE:NIO) - found its way to #19 as the company IPO’d on September 13th, raising approx. $1.8 billion on its first day.
Our first major newcomer was the Canadian company Tilray Inc (NASDAQ:TLRY). Being the #2-most-searched stock in Q3, and overtaking all FAANG stocks with ease, likely due to its IPO on July 20th, with a valuation of $1.4 billion. Tilray’s stock started at $24.25 and at one point even peaked at $300. At the end of Q3 its value settled at$143.62 per share - nearly 350% rise in value, most likely thanks to getting approval to export medical marijuana to the U.S. Two more cannabis stocks that also managed to join the top-20 were Canopy Growth Corp (TO:WEED) (#10) and Cronos Group Inc (NASDAQ:CRON) (#15). In part - the growth can be attributed to an investment of $4 billion from Constellation Brands Inc (NYSE:STZ) in Canopy Growth, which bolstered shareholders faith in the cannabis industry as a whole.
At #3 & #4 we find Amazon.com Inc (NASDAQ:AMZN) and Apple Inc (NASDAQ:AAPL) - the 2 first companies to hit a valuation of $1 Trillion. Both companies’ shares have since gone down significantly in what looks like the market correcting itself.
Facebook Inc (NASDAQ:FB) climbed five spots from #10 to 5th-most searched stock following a sharp drop of the stock value in late July, where the company lost over $119 billion over that weekend. The loss is likely to have been the result of reduced confidence by investors, following the company’s announcement of reduction in user growth due to the Cambridge Analytics data-sharing scandal.
During August, Advanced Micro Devices Inc (NASDAQ:AMD) saw its stock value shoot up, surpassing Amazon.com in investor money flows, most likely thanks to a favorable earnings report showing sales were up 53% compared to the previous year, making it the #6 most-searched stock. AMD’s rival NVIDIA Corporation (NASDAQ:NVDA) had an interesting quarter, with its stock fluctuating, but shifting down due to lowered guidance, then up thanks to the company announcing a new graphics card series, amongst other things, leaving it at #16. A side note: the 3rd player in the field, Intel Corporation (NASDAQ:INTC) dropped out completely from the top-20, falling to to #30.
2 additional cannabis-related stocks that joined the top-10 were India Globalization Capital Inc (OTC:IGCC) (#7) and New Age Beverages Corp (NASDAQ:NBEV) [NBVE] (#8), both of which announced that they plan on producing cannabis-infused drinks.
The 12th-most-searched stock, Square Inc (NYSE:SQ), rose from $60.47 on the first day of Q3, to close at $99.01 on the last day of the quarter. The rise seems to be a combination of positive revenue reports, beating the competition (PayPal's (NASDAQ:PYPL) Venmo) in app downloads, and receiving a very positive push from the Wall Street investment firm Guggenheim in late August.
Coming out of nowhere, Amarin Corporation PLC's (NASDAQ:AMRN) stock practically exploded in late September, following an announcement that their prescription pill Vascepa has been clinically proven to reduce 25% risk for major cardiovascular events. The stock shot up by 314% on September 24th, and at the time of writing, is still climbing.
The final 2 are Nike Inc (NYSE:NKE) which suffered some backlash following a controversial ad campaign in early September which, at the time garnered a lot of interest for its stock a lot of interest at the time. Finishing our list at #20 is Bank of America Corp (NYSE:BAC), with a strong earnings report in mid-July, only to suffer by late September, most likely because of the Fed’s decision to raise rates for the third time this year, with a possibility of raising it a fourth time in Q4.
Methodology
To gather this information, we checked the search volume from the U.S. for each stock for both the website and the mobile app, choosing the 20-most-searched stocks. This list is not a recommendation for investment. You must always do your due diligence.
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