The evil 'They' again. I have a college professor friend compiling a conspiracy theory satire list called 'The Book of They's.'
This isn't manipulation. That's obvious from the volume. Funds are increasing positions in streaming because bigger players are showing interest. Netflix is sector leader. It bounces off $53 three times, sets up a breakout, swing traders jump and at the same time the stock gets two impressive 'buy' recommendations. (You'd have to believe the entire world is in cahoots for it to be a conspiracy.) On top of that, the huge 28% short of float creates upward pressure. A Perfect Storm.
It has nothing to do with the company's underlying going concern value. It didn't at $134 either.
I am surprised by the magnitude of this move though. Whether the company is worth less isn't material NOW. It will be eventually.
Of course, we're all dead eventually. Good luck all.