DALLAS–(BUSINESS WIRE)–Apex Fintech Solutions (“Apex”), the fintech for fintech driving innovation and the future of digital wealth management, today released its Apex Next Investor Outlook for the third quarter of 2022 (“Q3 ANIO Report” or the “Report”). The report, which analyzes proprietary data from US-based investors trading through introducing brokers on the Apex Clearing platform as of September 30, 2022, highlights the top 100 stocks[1] held by investors across four generations, with a particular focus on the millennial and rising Gen Z[2] demographics. The report also includes an analysis of cross-platform cryptocurrency trading data. The report is not intended as securities analysis or as a recommendation to buy or sell any investment and is intended for informational purposes only.
Through the third quarter of 2022, Gen Z investors turned to renewable energy stocks that focus on mitigating climate change and rising gas prices. Alternative energy companies including Rivian, ChargePoint, Plug Power Inc. and Enphase Energy experienced notable growth. Consistent with the second quarter of 2022, stable, income-generating dividend players such as Costco, Abbvie, and Chevron remained prevalent, while top stocks in the Gen Z top 10 included Tesla, Apple, Amazon, Google, and Microsoft.
“As recession fears rise and geopolitical and environmental concerns are top of mind globally, younger investors are increasingly looking to technological innovation to pave the way for a clean energy future. At the same time, investors across generations remain interested in accessing the power of digital assets, says Connor Coughlin, Managing Director of Fintech at Apex Fintech Solutions. “Apex’s data underscores an increased level of retail engagement as digital commerce, wealth technology and financial education platforms continue to democratize access to financial markets.”
While turbulent crypto market conditions persist, Millennial investors remained bullish on Bitcoin and other flagship cryptocurrencies, including Ethereum. There were approximately 5.2 million crypto-enabled accounts on the Apex Crypto platform in the third quarter, a 6% increase from 4.9 million in the second quarter. Millennials represented 43% of these 5.2 million crypto-enabled accounts, with Gen Z at 35%, Gen X at 18% and Boomers at just 4%. Across all generations analyzed, 90% of accounts continued to hold their positions across tokens offered on the Apex Crypto platform.
Overall, the report analyzed nearly 1.4 million Gen Z accounts, in addition to over 6.8 million accounts held by millennials, Gen X and baby boomers owned by investors on the Apex platform, as of September 30, 2022.
Topics in the Apex Q3 Next Investor Outlook include:
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Renewable energy boosted while oil held steady – With rising gas prices in the headlines, Gen Z investors tapped into a number of renewable energy stocks to express their views on the current environment and future of energy capture, amid growing concerns about climate change.
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Beneficiaries of this trend were EV company Rivian, solar energy company Enphase Energy, EV charging company ChargePoint and hydrogen fuel cell company Plug Power Inc., which each climbed around twenty spots to #35, #43, #56 and #58, respectively.
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On the other side of the trend, oil and gas companies ExxonMobil, Chevron and Energy Transfer fell slightly in the rankings to #26, #59 and #72 respectively.
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Despite stormy crypto headlines, heavy crypto trading warmed up for the buy – In Q2, negative sentiment and lower asset values put a freeze on the cryptocurrency world, and this trend continued through the summer. In the third quarter, Apex Crypto users made over 2 million trades, 68% of them buy orders. Millennials had the highest number of purchases (674,000); However, the highest proportion of purchases were made by Boomers (73%) and Gen X (72%).
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Gen Z placed 315,000 trades, and 62% were purchases
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Millennial investors placed 992,000 trades, and 68% were buys
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Gen X placed 673,000 trades, 72% were buys
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Boomers have placed 122,000 trades, 73% were buys
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Millennials are bullish on Bitcoin – Although the price of BTC versus the US dollar fell more than 50% in Q2, investors continued to buy and hold flagship cryptocurrencies in Q3. Once again, millennials drove bullish behavior on BTC, accounting for over half (51%) of accounts invested in the asset. Gen X investors accounted for 25% of accounts with BTC, while Gen Z and Boomers accounted for 19% and 5% respectively. Here’s a look at the numbers:
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63% increase in the BTC token held since the beginning of the year
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13% growth in the BTC token held during the 3rd quarter
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68% of BTC tokens purchased in Q3 were held until the end of the quarter
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The long-awaited Ethereum merger:
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The long-awaited consolidation in Ethereum, and a nice bounce off the 6-month low price has put cryptocurrency tokens back in the focus of Gen Z investors, and increasingly Gen X investors.
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Digital asset technology company Marathon Digital Holdings, Inc. jumped to #80 from a previously unranked position.
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Both Gen Z and Gen X investors showed renewed interest in cryptocurrency exchange Coinbase, rising 21 spots to #50 in the Gen Z rankings and 30 spots to #75 in the Gen X rankings.
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Gen Z’s New Growth Tech Stock Darlings:
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During this year’s stock market sale, technology shares that have been market darlings lost some of their luster. In the third quarter, upward movements of stocks in the top 100 suggest that Gen Z investors are starting to pick their new favorites and are buying at significant discounts from previous peaks.
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DraftKings, Shopify and Coinbase were beneficiaries of this trend and have emerged as Gen Z’s new tech stock favorites. Millennials also showed a particular interest in Shopify. Notably, DraftKings rose 23 spots to #32, Shopify jumped to #44 from a previously unranked position, and Coinbase rose 21 spots to #50.
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While new growth tech favorites are emerging, Gen Z still showed a preference for “blue chip” crypto tokens (defined in this case as BTC, BCH, LTC and ETH) with 76% of their Q3 trades. Boomers follow with 64%, millennials with 63% and Gen X with 58%.
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To download the full Q3, 2022 ANIO Report, click [here].
About Apex Fintech Solutions
Apex Fintech Solutions is a fintech powerhouse enabling seamless access, frictionless investing and investor education for all. Apex’s omni-suite of scalable solutions fuels innovation and evolution for hundreds of today’s market leaders, challengers, change makers and visionaries. The company’s digital ecosystem creates an environment where clients with the biggest ideas are empowered to change the world. Apex works to ensure its partners succeed at the front lines of the industry via tailored custody and clearing, advisory, institutional, digital asset and SaaS solutions through its Apex Clearing™, Apex Crypto™, Apex Advisor Solutions™, Apex Silver™ and Apex CODA Markets™ Brands.
For more information, visit the Apex Fintech Solutions website:
Important information:
The availability of products and services may vary from country to country. Nothing herein constitutes an offer to sell or a solicitation of an offer to buy any securities, products or services of any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. The summary data in this report is composed of specific types of accounts that met certain criteria that are cleared through Apex (eg, self-directed individual accounts within a certain age range at a certain point in time). Any company shares and ticker symbols shown here are for illustration purposes only and do not constitute a recommendation for any particular security. All investments involve risk. Investment returns will fluctuate and are subject to market volatility. An investor’s shares, when redeemed or sold, may be worth more or less than the original cost. You should consider your investment objectives, the risks involved and consult with an investment and/or tax professional about your specific circumstances before making an investment decision.
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[1] Top 100 Stock Rankings reflect the 100 largest holdings based on nominal values as of September 30, 2022, held across all retail accounts on the Apex platform.
[2]The generations are segmented by the date of birth of the account holders: Baby Boomers: 1946-1964; Generation X: 1965-1980; Millennial: 1981-1996; Generation Z: 1996-2012.
