Young people are loving AMD ahead of earnings (AMD)

pulse

April 25, 2018 9:31 PM

AMD is dropping before earnings. But it's not because of demand for the stock among this demographic.

People under the age of 30 are doing most actively trading
Robinhood investors at large are more bullish on the stock than they were ahead of AMD's last earnings report.

Young people are buying up shares of Advanced Micro Devices ahead of the company's earnings report, which is scheduled to cross the wires after Wednesday's closing bell.

Investors are buying 40% more than they are selling AMD, according to data from Robinhood, a popular no-fee trading app used widely by millennials. That's a discernible change in sentiment on AMD among Robinhood investors, as they sold shares 5% more than they bought ahead of the company's previous earnings report.

And it is young people who have been accounting for most of AMD's trading action. Robinhood investors under the age of 30 account for 70% of AMD's trading volume on the app, data showed.

Robinhood data scientist Sahill Poddar has a theory for why young people are currently so hot on AMD. "

UPDATE: AMD's first quarter earnings beat analysts expectations. Click here for more.

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