3 Aussie stocks our customers are loving in 2024
Ever wondered what stocks other investors are trading? We’ve got the scoop from CommSec Market Analyst, Laura Besarati! Here are the top 3 companies our CommSec clients have been trading so far in 2024.
1. BHP Group (BHP)
BHP is one of the largest mining companies in the world. They’re what’s called a diversified miner, meaning they dig up a lot of different things from the ground like iron ore, copper, coal and nickel. BHP held the title as the biggest company on the Aussie market for a long time, however, in July it was knocked to second place, as lower commodity prices weighed on its share price.
The business cycle, which is marked by economic booms or recessions, can accelerate or slow the momentum of an investment trend from time to time. Although over longer stretches, the theme will outlast these short-lived influences and continue to evolve.
2. Pilbara Minerals (PLS)
Pilbara Minerals is the largest pure-play lithium miner on the Aussie market. Lithium is used to make batteries that power electric vehicles, amongst other digital devices like mobile phones and e-bikes. While a sharp fall in the price of lithium has put pressure on Pilbara’s share price recently, they have been outperforming many of their lithium peers.
Famously, Apple had its beginnings in a friendship between Steve Jobs and Steve Wozniak, who built their first computer in a garage in the 1970s. The company that followed, listed on the sharemarket in 1980 at US$22 per share, was at the time valued at just over US$100 million.
Lithium prices have tumbled 85% since its peak in late 2022 - which is around the same time Pilbara’s share price hit a record high - on the back of softer than expected demand for electric vehicles across the globe, but mostly in China.
Pilbara’s share price has fallen by 27% in 2024 so far. Before the declines this year, its share price improved for four straight years, from a low of 13 cents in 2020 to a high of $5.43 in 2023.
