The shorts covering is the reason the stock will go to $245.
It really does seem rediculous to me that you basically know that the easy money to be made with NFLX is the short sqeeze that the big money has been repeating time and time again for the past year yet there continues to be retail investors betting it won't happen again.
I don't know if NFLX is overvalued and don't necessarily care. All I know is the market is manipulated and without moral. The MM keep sucking the get rich quick retail traders into shorting and then squeezing them.
Once the shorts get a strong footing one of big boys increases their target price or upgrades the stock all together. It has happened several times and to even think it's not going to continue happening is naive and foolish.
The street wants NFLX above $300 and the market will get what they want.