NFLX saw whiplash after earnings but stock managed to trade flat after conference call. We're a Hold on the name
Netflix $Netflix (NFLX.US)$ experienced a slow start to the year, missing Wall Street estimates after adding only 1.75 million customers in Q1, compared to the expected 2.41 million. The company also predicted lower sales and profit for the current quarter, delaying its plan to crack down on password sharing in the US. This marks the second year in a row that Netflix has started off on shaky ground, with its shares slipping more than 50% since November 2021.
The streaming giant is closing its DVD delivery operation and introducing two new initiatives—an advertising-supported tier and a plan to address password sharing. The company estimates that over 100 million people use unpaid Netflix accounts. While foreign territories contributed to almost all of Netflix's growth in the quarter, the service lost subscribers in Latin America, which may be linked to the crackdown on password sharing.
Despite these challenges, Netflix remains the most popular TV network in the US, accounting for more than 7% of all TV viewing each month. We believe that any visit to 290 is a buyable region and 350 is where we believe sellers will come back to this name.
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Lessimp : You may want to report the pump and dump AMC and how the stock recovered before the report though.
102608475 Lessimp : huh ???
Lessimp 102608475 : Sometime around 4pm EST when the closed, NFLX was standing below 297 before it rose back up to 333 again and thus, my reason for pump & dump.