The cannabis craze swept markets in September, with TradeStation clients riding the wave.
Canadian marijuana firm Tilray (TLRY) was the third-busiest stock on our platforms this month, catapulting from No. 24 in August. Related companies Canopy Growth (CGC) and Cronos (CRON) also saw big gains in popularity without making our monthly top 10. The activity results from investors positioning for Canada’s pot legalization on October 17.
Aside from that, TradeStation’s ranking of top symbols was little changed. One noteworthy theme continues to be a focus on single-name equities instead of indexed products. Back in March and April, exchange-traded funds accounted for about half the most popular symbols. Nowadays, only the SPDR S&P 500 ETF (SPY) made the list.
Here’s the complete top 10 ranking for September (as of yesterday’s close):
- Advanced Micro Devices (AMD): The high-flying chip stock rose from No. 6 a month earlier.
- Apple (AAPL): The tech giant slipped from the top spot in August.
- Tilray (TLRY): The cannabis stock shot up the rankings from No. 24 in August.
- Amazon.com (AMZN): The e-commerce giant edged down one notch.
- Facebook (FB): The social-media company dropped from the second-busiest spot in August.
- Micron Technology (MU): The memory-chip maker rose from No. 13.
- Netflix (NFLX): The streaming-video stock rose one notch from the previous month.
- Tesla Motors (TSLA): The electric-car company slid from fourth place.
- SPDR S&P 500 ETF (SPY): The market-tracking fund slipped two spots.
- Nvidia (NVDA): The semiconductor company edged down from No. 5 in August.
The two symbols that fell off the top 10 were iPath S&P 500 VIX (VXX) and Alibaba (BABA).