Amazon Sees Record Interest From Retail Investors After Earnings
- Vanda data suggest ‘FOMO’ drove heavy flows into big tech
- Big tech reports largely disappointed, with Apple an exception
An Amazon delivery truck in San Francisco.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Major US technology and internet stocks have tumbled in recent sessions, pressured by some disappointing quarterly results. But that hasn’t deterred retail investors from scooping up beaten-down shares, according to Vanda Research.
The aggregate retail buying of Wall Street’s biggest stocks “broke all records” in the latest week, in what Marco Iachini, senior vice president, said was a function of both earnings and FOMO -- or a fear of missing out.