Growth stocks rule in Goldman screen of biggest retail investor buys and sells

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Retail investors continue to favor growth names over value and lean to tech, according to Goldman Sachs’ new report on retail buy and sell activity.

“We estimate retail investors were net buyers of $7 billion in Russell 3000 (NYSEARCA:IWV) stocks since the volatility spike on 24-Jan-2022,” John Marshall, Goldman head of derivatives strategy, and team wrote in a note. “The vast majority of flows have been into S&P 500 (NYSEARCA:SPY) stocks with a small amount into Mid-cap (outflows from Russell 2000 (NYSEARCA:IWM) names). This analysis helps to explain the significant underperformance of Russell 2000 vs the S&P 500.”

Lookings at sector inflows and outflows, Info Tech (NYSEARCA:XLK) remains the outsized favorite, followed by Consumer Discretionary (NYSEARCA:XLY) and Industrials (NYSEARCA:XLI). Biotech (NASDAQ:IBB) is still the least favorite by a wide margin.

“Biotech outflows are consistent with their smaller average size; however, we note that the cumulative outflows from Biotech ($17b) are larger than the entire cumulative outflow from all Russell 2000 constituents ($15b) over the full period,” Marshall said. “Retail selling has correlated with significant underperformance of the Biotech sector over the past year.”

Goldman screened for stocks with the largest absolute retail net dollar buying flows since January 2019.

As a percentage of market cap, the top buys are meme favorite AMC (NYSE:AMC), GameStop (NYSE:GME) and AMD (NASDAQ:AMD).

Biggest buys since January 2019:

  1. Nvidia (NASDAQ:NVDA), cumulative retail buying $10.4B, % of market cap 4.4%
  2. AMD (AMC), $9.5B, 23.2%
  3. Amazon (NASDAQ:AMZN), $9.2B, 0.7%
  4. Tesla (NASDAQ:TSLA), $7.3B, 0.7%
  5. Microsoft (NASDAQ:MSFT), $6.4B, 0.4%
  6. Apple (NASDAQ:AAPL), $5.9B, 0.6%
  7. Meta (NASDAQ:FB), $5.4B, 0.9%
  8. Disney (NYSE:DIS), $3.6B, 1.5%
  9. Visa (NYSE:V), $3.5B, 1%
  10. PayPal (NASDAQ:PYPL), $3.3B, 1.2%
  11. Verizon (NYSE:VZ), $2.8B, 1.2%
  12. Boeing (NYSE:BA), $2.7B, 2%
  13. JPMorgan Chase (NYSE:JPM), $2.5B, 0.7%
  14. Uber (NYSE:UBER), $2.2B, 3.4%
  15. AbbVie (NYSE:ABBV), $2.2B, 1.4%
  16. Walmart (NYSE:WMT), $2.1B, 0.5%
  17. Micron (NASDAQ:MU), $2.1B, 4%
  18. Medtronic (NYSE:MDT), $2B, 1.4%
  19. Home Depot (NYSE:HD), $1.8B, 0.7%
  20. Costco (NASDAQ:COST), $1.7B, 1.2%
  21. Salesforce (NYSE:CRM), $1.7B, 0.9%
  22. Nike (NYSE:NKE), $1.7B, 1%
  23. AMC (AMC), $1.7B, 121.1%
  24. Pfizer (NYSE:PFE), $1.6B, 0.8%
  25. Palantir (NYSE:PLTR), $1.6B, 4.9%
  26. UnitedHealth (NYSE:UNH), $1.5B, 0.4%
  27. GameStop (GME), $1.5B, 31.4%
  28. United Airlines (NASDAQ:UAL), $1.4B, 14.6%
  29. American Airlines (NASDAQ:AAL), $1.4B, 20.7%
  30. Citi (NYSE:C), $1.4B, 1.1%

It also screened for biggest buy and sell flows over the last three months.

Biggest buys:

  1. Nvidia (NVDA), $4.49B
  2. Amazon (AMZN), $2.24B
  3. Tesla (TSLA), $1.68B
  4. Microsoft (MSFT), $1.38B
  5. Disney (DIS), $936M
  6. Meta (FB), $654M
  7. Boeing (BA), $495M
  8. JPMorgan Chase (JPM), $492M
  9. Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL), $482M
  10. Bank of America (NYSE:BAC), $400M

Biggest sells:

  1. Alibaba (NYSE:BABA), -$776M
  2. Apple (AAPL), -$633M
  3. Moderna (NASDAQ:MRNA), -$608M
  4. Roku (NASDAQ:ROKU), -$501M
  5. Shopify (NYSE:SHOP), -$494M
  6. Snowflake (NYSE:SNOW), -$339M
  7. AT&T (NYSE:T), -$313M
  8. Snap (NYSE:SNAP), -$304M
  9. Baidu (NASDAQ:BIDU), -$288M
  10. BioNTech (NASDAQ:BNTX), -$285M

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