Retail investors pile into Amazon ahead of earnings

by Dramelin 4:00 AM 0 comments

Earnings are no sure thing for Amazon investors. Ahead of the e-commerce giant`s fourth-quarter earnings announcement scheduled for Thursday, retail investors are buying the stock at a 20 percent higher rate than they were before the prior quarterly report, according to online stock trading platform Robinhood. In the third quarter, a significant earnings disappointment sent the stock down more than 5 percent. In an e-mail sent Wednesday afternoon, Robinhood said that over the previous 24 hours, investors bought Amazon stock 1.8 times more than they sold it, compared to 1.5 more buys than sells leading up to third-quarter results. But in four of the five reports before that, better-than-expected numbers led to stock rallies.