results for Q4. It looks like they did. At first there was no reaction to the news that they had 2 billion viewing hours in the quarter. Then the stock started to take off when it was revealed that this was double what some analysts who follow this metric were expecting. Unlike what most think, Netflix's fast growth in streaming is still going on. The strong price action should continue next week.
The hours viewed thing might be good news, it is hard to tell without context to previous time periods.
Anyone that has been in this stock long term (I am short since $242 originally on the way up) knows what the rumors and press releases that haven't meant much overall has done to push this stock up temporarily. We will see if it happens again. Ultimately it will come down the the earnings report and the release of the 10Q.
The 2 billion streaming didn't make the stock fly up to this level...it cools down on Thursday. It's the Yahoo buying NFLX rumour on TV that makes it soar. Now the news is dead, it's gonna crash dow tomorrow.
When one says STRONG BUY, I wonder how many shares you have parted. I'm a STRONG SELL, I'm shorting 4k shares now and getting ready to short another 2k shares tomorrow.
Not alot to some but quite a fair bit for me. I'm nervouse, yes.....but I feel strongly about my decision.
The Yahoo buyout wasn't a rumour, it was suggested by an analyst appearing on CNBC as a possibility with Yahoo's newly appointed CEO (he would be looking for new growth opportunities). This same analyst appeared later in the day and recanted saying that Netflix would be too big a takeover for Yahoo and Hulu would be a more likely target. Nothing new here. There's been takeover chatter concerning Netflix for months now, however the market hasn't fully digested this 2 billion hour news which is almost double what people were expecting. Thats a big jump in consumption by Netflix viewers. There had to be a significant add of new subs to reach that level of hours.