NetFlix Deserves a Look
NetFlix Inc (NFLX) shares are done going down, they have bounced back 30% since trading $62 last month. Today NetFlix shares closed at $81.64 and its clear they are done falling like a rock.
NetFlix (NFLX) and its fall from grace was a big story last year. Recall the ridiculous $300 share price and its CEO Reed Hastings consistent bat shit antics. All the madness appears to be behind us as NetFlix has bounced from $62 share price to today's $80 level.
The drama with Viacom (VIAB) channels dropping from DirecTV (DTV) until the idiots figure it out is only building the long case for NetFlix. Just when everyone gave up on NetFlix the company said last week that its subscribers watched 1 billion hours of television shows and movies in the month of June. The trend is real of consumers dumping traditional cable packages and opting for NetFlix, Hulu, Crackle and other XBOX Live Apps.
NetFlix is becoming a poor mans HBO with original programming such as House of Cards , starring Kevin Spacey, later this year. The company plans to air 10 new episodes of Arrested Development in early 2013. The company has tons of TV shows and still offers some movies just not everything consumers want. Still its enough to keep its customers satisified with content from Metro-Goldwyn-Mayer, Twentieth Century Fox, Hasbro studios, The Weinstein Company (TWC), Warner Bros. Domestic Television Distribution, and Epix.
MASTERY Bottom line:
NetFlix has attracted some serious buyers in the past 30 days and its momentum is building.
The bottom finally appears to have been hit, its time to get back in the game.
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