Technology
Amazon earnings: Millennials are snapping up shares ahead of time
REUTERS/Rex Curry
Young investors are loading up on Amazon
ahead of the e-commerce giant’s earnings report on Thursday, data
from the stock-trading app Robinhood shows.
Three thousand investors loaded up on the stock in the past week,
making it the 13th most popular name on the app, which skews much
younger than traditional brokerages. Eighty-four thousand users
currently hold the stock, according to Robinhood’s website, up
from 69,000 when Business Insider first began tracking the data
last month.
Analysts polled by Bloomberg expect Amazon to report adjusted
second-quarter earnings of $4.99 a share on revenue of $53.35
billion.
Amazon was was down 2.7% on Thursday afternoon, but is up 53%
this year.
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