November was a strong month for the stock market, with both the Dow Jones Industrial Average (DJIA) and the S&P 500 (SPX) witnessing their best monthly performances of 2024. This positive momentum was fueled by a strong rally following the post-election results and other encouraging economic indicators. The Dow Jones, the S&P 500, and the Nasdaq Composite (NDAQ) gained 7.5%, 5.7%, and 6.2%, respectively.
November’s Most-Bought Stock
Chip giant Nvidia (NVDA) was the most bought stock in November. The company’s dominant position in the artificial intelligence (AI) market and stellar financial performance keep investors confident about its performance. Furthermore, the company’s AI chips remain in high demand due to the increasing adoption of generative AI.
Is Nvidia a Buy, Sell, or Hold?
Nvidia stock has a Strong Buy consensus rating based on 37 Buys and three Hold recommendations. Despite a year-to-date rally of 193%, the analysts’ average price target on NVDA stock of $176.14 implies an upside potential of 21.36% from the current level.
In addition to Nvidia, let’s look at the other most-bought stocks for November.
Top 10 Most-Bought Stocks
Observing the investment trends in November, we discovered investors continued to trade tech stocks, primarily with exposure to AI. Here is the list of the most-bought stocks for November:
- Nvidia
- Amazon (AMZN)
- Apple (AAPL)
- Microsoft (MSFT)
- Tesla (TSLA)
- Palantir Technologies (PLTR)
- Alphabet Class A (GOOGL)
- Meta Platforms (META)
- Advanced Micro Devices (AMD)
- Super Micro Computer (SMCI)
November’s Most-Sold Stocks
Surprisingly, Nvidia was also the most sold stock by investors, according to the TipRanks Smart Portfolio. Perhaps, investors capitalized on NVDA’s recent price surge, selling their shares to secure profits.
While Nvidia was the most sold stock, let’s examine the top 10 list for November.
- Nvidia
- Amazon
- Microsoft
- Apple
- Tesla
- Advanced Micro Devices
- Meta Platforms
- Super Micro Computer
- Alphabet Class A
- Fidelity Freedom Blend 2030 Fund Class K (FHAEX)
November’s Most-Held Stocks
Amid market volatility and the subsequent price correction, investors took advantage of the opportunity to buy and hold shares in leading companies, aiming to benefit from their price recovery. Here’s the list of the most-held stocks for November:
- Apple
- Nvidia
- Amazon
- Microsoft
- Conocophillips (COP)
- Tesla
- Meta Platforms
- Alphabet Class A
- Advanced Micro Devices
- Expand Energy (EXE)
We’ll return shortly with the top-traded stocks from December 2024. In the meantime, stay updated on market trends effortlessly by monitoring your portfolio’s performance with the TipRanks Smart Portfolio tool.
