So, the Dow hit 30,000; which ASX American stocks are rallying too?
Link copied to
US markets are on the charge right now but are American ASX stocks on the run too?
A post COVID-19 bull run has seen both the Dow Jones and the S&P 500 gain over 60 per cent since mid-March while the NASDAQ Composite is up 75 per cent.
The ASX meanwhile has seen a similar rally but slightly weaker at only 48 per cent and unlike the US markets remain below pre-COVID levels.
Australia’s bourse is nonetheless home to around a dozen US headquartered companies and some of them have seen impressive rallies in recent months.
Taking top spot is Minneapolis headquartered buy now pay later company Sezzle (ASX:SZL).
Sezzle listed in July 2019 and is up nearly 400 per cent since then and has rallied 189 per cent in 6 months.
The company has rode investor sentiment from its steadily increasing user base as well as the hype of the buy now pay later sector generally.
The second best American ASX stock is medical imaging biotech company Osprey (ASX:OSP), up 120 per cent in 6 months. Much of this company’s rally came in July when it formed a distribution partnership with General Electric.
It is the latter of these that has notched up the biggest gain, up 104 per cent in 6 months.
Life360 has impressed the market with its continued user and revenue growth, although not yet enough to bring it to its May 2019 IPO price.
The industry was struggling pre-COVID due to the US-China trade war and being capital intensive were an easy target for investors to sell off.
While ASX semiconductor stocks tend to be at an earlier stage compared to their US-listed peers, Revasum and Pivotal are among the more advanced but typically only sell to the big tech players through third parties.