Millennials are snapping up Amazon ahead of earnings

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 $US4.99 a share on revenue of $US53.35 billion.

Amazon was was down 2.7% on Thursday afternoon, but is up 53% this year.

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