Goodman Group sees 85 per cent increase in shares traded off back of warehouse development in Sydney

It was a diluted trading week again for Raiz traders with two mineral stocks helping to provide some bright spots.

Trading activity for the week was down 11 per cent to thirty-four and a half thousand shares traded amongst the top ten.

The biggest mover was Goodman Group ($GMG) which saw an 85 per cent increase in shares traded, pushing it to 2598 shares traded. The industrial giant has just completed its $60M adaptive re-use of three warehouses in Sydney’s south, which already has leasing commitments for 75 per cent of the land. The commitments include high end fashion labels, a carbon-neutral menswear brand and even a boutique ice cream maker.

Interestingly, it was revealed this week that the CEO of Goodman Group, Greg Goodman was one of the highest-paid CEOs for the year with a take home of $27.3M. However the company has had a good year with its stock up over 68 per cent over the last 12 months. Amongst the broker groups it has a buy rating, which is always attractive for traders.

Taking out the number two spot in the top 10 was Pilbara Minerals ($PLS) which had 3581 shares traded over the last seven days. This was an increase of 74 per cent over the week and a 1400 per cent increase from four weeks ago when it had just 238 shares traded.

The company came out with its fourth quarter update this week, revealing a 26 per cent quarter on quarter increase in production, beating market consensus. Sales were also up 43 per cent QoQ, and revenue was up 58 per cent to $305M. However, its total revenue over FY24 is still down 69 per cent due to a collapse in lithium prices.

Pilbara’s CEO Dale Henderson said they continued to see strong demand from customers and expected to continue to increase production in FY2025.

Another minerals group, South32 ($S32) was also up into the top 5 on Raiz after a 38 per cent increase in shares traded. This is despite a sluggish week for the group as its Worsley refinery comes under threat. A stricter approach to environmental approvals by the Western Australian Government prompted the miner to record a $581M impairment and brought its shares to a 16-week low.

It also reported a quarterly update where it downgraded its production guidance for the year ahead. Broker group Citi upgraded its rating on South32 to a buy from a hold, suggesting the selloff could be a buying opportunity. It currently holds a buy from most of the major broker groups like Goldman and Macquarie but this was before the falls.

One of the laggards of the week was AGL Energy ($AGL). This company fluctuates a lot in the Raiz top 10, having been the number 3 most traded stock last week. It now sits at number 8 following a 63 per cent fall in shares traded.

Meanwhile the ETF market also saw a drop in its units traded for the week, despite some big pushes at the tail end of the top 10. There was a 28 per cent drop in total units traded amongst the top 10, with big falls amongst the top three ETFs.

The Russell Investments Australian Select Corporate Bond ETF ($RCB) fell 44 per cent, SPDR S&P/ASX 200 ($STW) fell 24 per cent and Betashares Global Sustainability leaders ETF ($ETHI) fell by 38 per cent.

Despite these falls, there were some huge gains made amongst the bottom three. The Betashares Nasdaq 100 ETF ($NDQ) was up 133 per cent, the Betashares Global Cybersecurity ETF ($HACK) was up 192 per cent and the Global X Semiconductor ETF ($SEMI) was up 106 per cent.

The last three ETFs all invest in the tech sector, and particular focus may have been on the HACK ETF after last week’s global outage. The company responsible for the outage, Crowdstrike, makes up 6.2 per cent of the ETF HACK which may have been seen as an opportunity for investors.

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Raiz Invest Australia Limited – Authorised Representative of AFSL 434776. The Raiz Invest Australia Fund is issued in Australia by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) a subsidiary of Raiz Invest Limited and promoted by Raiz Invest Australia Limited (ACN 604 402 815). PDS and TMD are available on the Raiz Invest website and App. You should read and consider those documents before deciding whether, or not, to acquire and continue to hold interests in the product.