Netflix is scheduled to report earnings after the closing bell Monday, and millennial investors are loading up on the stock ahead of the release.
On the stock-trading app Robinhood, millennial investors younger than 35 were buying up shares of Netflix 17% more than they were selling, while older investors were buying only 5% more than selling. However, millennials’ enthusiasm seems to have tapered off a bit since the last quarter.
“Investors on Robinhood are slightly bullish ahead of these earnings. Investors are buying NFLX 7% more than they are selling, leading up to earnings. This figure was at 20%, ahead of the last earnings report,” the app’s data scientist Dr. Sahil Poddar told Business Insider.
Netflix is currently the 11th most-held stock on the zero-fee app. Its competitors Disney and Amazon are number 17 and 15, respectively.
Netflix is gaining slightly in trading Monday ahead of earnings. Wall Street analysts polled by Bloomberg expect the company to report earnings of $0.72 per share on revenues of $3.689 billion.
Shares of Netflix have easily outpaced their peers in the so-called FAANG basket, rising more than 52% since the start of 2018 compared to second-place Amazon‘s 2% year-to-date gains.
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