Fineco traders have been buying Naked Wines stock | MyWalletHero

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Fineco traders have been buying Naked Wines stock
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Investors have been swooping in from all angles to buy and sell certain shares this week. One of the companies catching the eye is Naked Wines. Their stock has generated a lot of buys on the Fineco platform.

Let’s take a look at why traders have been buying these shares and what other companies are being heavily traded.

What do we know about Naked Wines (WINE)?

You might have guessed from the name, but this company is all about wine. As far as I’m aware, the wines the company sells are still served up in bottles with no actual nudity!

Good wine is all about maturity and care for the process – something that this company has developed over the years.

The company’s main business is as an international wine retailer, but it also funds independent winemakers.

Why has Naked Wines stock been popular?

According to data from Fineco Bank, these shares were among the most bought on their platform.

The trading was all going in one direction with 100% of the trades being buys. There are a few potential reasons for this spike in demand for Naked Wines:

  • The company recently reported a 68% increase in sales over the past year throughout the coronavirus pandemic.
  • Things aren’t back to normal just yet, and the extending of restrictions will likely mean a lot of people will continue to drink wine at home instead of out and about.
  • Naked Wines has put a big focus on the US market, which is seeing strong demand as the economy continues to recover.

What’s next for Naked Wines stock?

Although investors are currently confident and buying these shares by the handful, will the good news for the business continue?

The eventual easing of restrictions will likely mean a drop in sales for the business as people buy more wine outside their homes.

Although Naked Wines has been increasing its revenue, its losses have also been increasing. The company has explained that this is partly due to the costs of investing back into the business to attract and keep customers. It’s an answer that seems to have satisfied many investors.

Regardless of what’s around the corner, wine is always going to be a popular drink both at home and abroad. If Naked Wines can make themselves a household name, then they may have no problem continuing to build their revenues and reduce their losses.

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What other stocks have traders been buying?

Naked Wines wasn’t the only business attracting the interest of investors. Here’s a quick rundown of the other shares investors are buying in droves:

  • Metro Bank (MTRO)
  • IQE (IQE)
  • Paypoint (PAY)
  • Dr Martens (DOCS)
  • PZ Cussons (PZC)

Where can I buy Naked Wines stock and others in the UK?

If you’re looking to get involved and invest in one of these exciting businesses, the first step is to set yourself up with a share dealing account. Then you can hunt down your top shares.

Using an account like the Fineco Bank stocks and shares ISA is a great way to protect your investments from tax. Just remember that tax rules can change and that tax treatment depends on your individual circumstances.

All investing carries risk and you may get out less than what you put in. Don’t feel like you have to follow the crowd and invest as others do. How you try to make your money grow is completely down to you. So always research any potential investments thoroughly.

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