The top 10 most actively traded stocks account for 16.4% of total US market turnover, with Nvidia leading

Odaily News, The Kobeissi Letter posted on X platform stating that a small number of stocks are currently dominating trading in the US market. Nvidia is the most actively traded stock in the US market, accounting for 3.0% of total market notional turnover year-to-date. It is followed by Micron at 2.8%, Tesla at 2.1%, and SanDisk at 1.5%. In aggregate, the 10 most actively traded stocks have accounted for an average of 16.4% of total market notional turnover year-to-date. Meanwhile, the liquidity of some of these stocks is lower than the average level of S&P 500 index constituents. SanDisk's average bid-ask spread is 12.4 basis points, more than double the S&P 500 average of 5.9 basis points. Tesla, Microsoft, and Alphabet also have smaller average order sizes at the best bid and ask prices than typical S&P 500 constituents, indicating thinner liquidity despite their massive trading volumes. A small number of stocks are driving enormous market trading volume.