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In the first quarter of this year, investors of the investment platform Luminor Investor from the Baltic countries made almost twice as many transactions, investing almost one and a half times more than in the equivalent period last year, while the turnover of the platform reached 218 million euro.
In the first quarter of the year, the platform users from Latvia, Lithuania and Estonia most often bought Tesla, GameStop Corp. and Fuelcell Energy stocks, with a total of more than 22,000 transactions. Compared to the previous year, the most popular stocks this year still are stocks of the US electric car manufacturer Tesla, the total amount of transactions with which reached more than seven million euro, and in 2020 Luminor clients invested a total of 21 million euro in Tesla stocks.
The TOP 3 of stocks this year was also joined by a US trader of video games and entertainment products GameStop Corp.and the US energy company Fuelcell Energy, in which the platform users invested almost 4.4 million euro and 3.8 million euro respectively. Among the most frequently bought stocks in the first three months of this year are also stocks of Nokia Oyj, Apple Inc. and Nio Inc.
"The platform's data for the first quarter show that interest in investments in the Baltic countries continues to grow rapidly, reaching a turnover of 218 million euro, which is 43% more than in the same period last year. Of leaders of 2020, Tesla stocks have maintained their positions, while Berkshire Hathaway Inc.B and Apple stocks, which ranked second and third in terms of sale amounts last year, are no longer to be found among the top three choices. The fact that the controversial GameStop stocks have not gone unnoticed indicates that the Baltic investors also closely follow global financial market trends and in certain market conditions are ready to invest in speculative risk assets,” tells Janis Bebris, Luminor bank's Saving and Investment Products Development Manager.
In 2020, the turnover of the Luminor Investor platform was 626 million euro, and this is 38% more than the total turnover of all three Baltic stock exchanges, which was 453 million euro last year.
“Households in the Baltic countries invest five times less than the European average, but both in 2020 and in the first quarter of this year, the amount of investments of Luminor Investor's clients has been unprecedentedly high. This is mainly due to improvements in the platform's functionality, which includes the automatic identification and account opening functionality introduced the last year, as well as money transfer solutions, as a result of which the platform is easy to use for both experienced and new investors,” adds Janis Bebris.