"We notice a rotation towards Swedish banks and industry, from American tech," says Nordnet's savings economist Frida Bratt in a press release.
Several tech giants were sold off during the month, including Nvidia and Tesla. Tesla is struggling with major challenges, where car sales in Europe are plummeting at the same time as owner Elon Musk has made several controversial statements. "From a shareholder perspective, one must now ask oneself if he is still the right person to be CEO of Tesla," says Bratt.
The stock is down nearly 30 percent in February.
The major banks delivered higher profits than expected and came with large dividend announcements – something Swedish savers jumped on. "In February, Handelsbanken, Swedbank, and Nordea were bought up briskly by savers," comments Bratt.
The defense trend continues, which was noticeable in the Saab stock, which was heavily bought up in February. The most bought stocks among Nordnet's Swedish customers were Handelsbanken, Investor, and Swedbank. The most sold were Tesla, Boliden, and Nvidia.
