With the announcement that coinstar is buying back $50 million of its stock and are almost ready to start a streaming and mail movie package the institutions are thinking what to do. That fact now that disney and other content providers will be charging more is a game changer.
netflix's growth will start to slow substantially once coinstar and others (amazon, apple, google, etc.) enter the streaming business.
also the fact that mr. Hastings knows that this quarter he will not be able to play with , accounts payable to improve the cash flow statement; the free subscriptions mistery, the manipulation of amortization expense of content, the increasing cost of content, etc. because now he knows that he is under the microscope and several sec complaints have been file concerning these issues. Who in their right mind is buying this overpriced stock.
it is time to lock in your gains and exit netflix. new positions should be taken for coinstar and amazon.
netflix book value of $ 4.89 net of intangibles and stock price of $ 237 is crazy. It is wildly illogical that with all this new information out there the institutions are going to hold on. Currently these institutions are holding, but as soon as one breaks out to sell first the others will follow and the little guys will be holding the bag like always.hey do, they will take a beating.
i believe mr. Whitney tilson will short this stock again on the way down to make up for the losses.
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USA COWARD ZOMBIES:Matt Taibibi: Why Isn't Wall Street in Jail?
By Matt Taibbi
FEBRUARY 16, 2011 9:00 AM ET
Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer.
"Everything's ?ucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that."
I put down my notebook. "Just that?"
"That's right," he said, signaling to the waitress for the check. "Everything's ?ucked up, and nobody goes to jail. You can end the piece right there."
Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people.
Read on rollingstone dot com
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dont be so sure he does not keep reporting lower marketing expenses & SAC to offset the amortization to make numbers again...just keep singing from the roof tops so when he pulls this BS again in 1Q no one will believe it......in anticipation of this Mr. Brecken should say so on CNBC before they pull it off again during 1Q EPS
Maybe Tilson was shorting when he said he has covered. Did you see the eexchamnge between Tilson and Hastings and how quickly they changed minds.
Well, lets see what happens at the end with them but Netflix stock going to $50 or lower no doubt.