- Millennial investors are buying shares of Amazon5% more than selling, a stark departure from last quarter,w hen that number was 47%.
- The company will report first quarter earnings after the closing bell Thursday.
- Follow Amazon’s stock price in real-time here.
Young investors aren’t feeling as keen on Amazon this quarter.
Trading data from the Robinhood show that investors on the stock trading app- who skew much younger than traditional brokerages – are buying shares of Amazon just 5% more than they’re selling.
That’s a marked shift from last earnings season, before President Donald Trump’s Twitter tirades against the e-commerce giant.
“They were a lot more bullish ahead of the previous earnings report, buying 47% more than they were selling,” the app’s data scientist, Sahill Poddar, told Business Insider in an email. “The company recently faced criticism from President Trump, which may have influenced investor sentiment.”
Amazon is the 15th-most held stock on Robinhood, up from 17th place in recent weeks. Competitors Alibaba and Walmart are 14th and 32nd, respectively.
Amazon will report its first quarter earnings after the closing bell Thursday. Analysts polled by Bloomberg are expected adjusted earnings of $US3.09 per share on revenues of $US49.96 billion.
Shares of the company are up 25% so far in 2018.
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