Company Interview / Retail investors flip the script as war drags on

Key points:

Contrarian rotation as cash is deployed into sold-off stocks and profits taken in recent winners Heavy trimming in energy leaders Woodside (ASX:WDS) and Santos (ASX:STO), plus coal plays Yancoal (ASX:YAL) and New Hope (ASX:NHC) Mixed positioning in CSL (ASX:CSL), strong retail interest in BHP (ASX:BHP), and growing focus on gold ETFs and cash Selective buying in tech names WiseTech Global (ASX:WTC), Zip (ASX:ZIP) and US semiconductor Micron (NASDAQ:MU)

Gemma Dale from nabtrade outlines how heightened geopolitical tensions are driving extraordinary trading volumes, with record levels of cash now being deployed into equities. Dale states that investors on the platform are acting contrarian: aggressively trimming recent winners and rotating into heavily sold-off names, while selectively using cash to rebalance portfolios.

In energy, Dale highlights intense selling in Woodside Energy (ASX:WDS), describing it as one of the largest single-day stock volumes seen on the platform, with sell orders dominating by both trade count and value. Santos (ASX:STO) is also heavily trimmed, while coal names such as Yancoal (ASX:YAL) and New Hope (ASX:NHC) are being reduced after strong runs, with investors reallocating into weaker sectors. In resources, BHP (ASX:BHP) is simultaneously a popular long-term buy for younger investors’ portfolios and a major target for profit-taking after its strong rally.

Dale notes that CSL (ASX:CSL) continues to divide opinion, with many averaging in from below $250 yet some high-value holders now trimming. In gold, investors are reportedly selling down ETFs after a sharp price surge, often moving proceeds to cash. In tech, WiseTech Global (ASX:WTC) attracts renewed buying, while Zip (ASX:ZIP) is drawing speculative interest. Offshore, Dale points to strong buying in Micron (NASDAQ:MU) following a share price pullback despite what she describes as astonishing results.