Russian media companies are complaining that Youtube and Facebook block them. So sad. Now, what about the stock price?
NETFLIX: end of fiesta
Netflix stock reached $570 a week ago. That’s the all-time high – challenged again. Failing to step over it, the stock price bounced downwards to eventually come to $523. That means, it erased all October gains and seems likely to dive lower. The most recent episode was losing $10 of value from $533 to $523 yesterday. Why?
Expectations were not met. Profits resulted lower than expected, new subscribers are coming slower than expected, everything, in general, proved to be duller than expected. It may be nothing specific to Netflix though: after the crushing experience of the first wave, the companies that were either resilient enough or benefited from the virus showed extraordinary results in Q2 against fearful projections. So investors extrapolated this performance into Q3 expecting similarly outstanding results. Which did not happen. So it is not the objective failure of Netflix to expand its business as much as the disillusionment of the market. That doesn’t mean Netflix has no problems though: it is trying to invent new ways of acquiring customers such as offering a free trial for a week for an entire country. Just as an option. In any case, be careful with this stock: it may go further downwards. Otherwise, there is plenty of room for bulls to take over: a 10% back up to the all-time resistance would be a nice gain.
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