And from $409 to $615 in just 6 weeks.....Nice company, but overvalued, by a lot.
Netflix has not discovered a cure for all diseases, it's a stock. Someone has to reset traders' expectations in this market, and instill some fear, to take away all the apathy and greed. Anyone who thinks there won't be profit taking, or even a crash, is mistaken. No, I'm not short NFLX, but this stock is a microcosm for what is dreadfully wrong with today's markets.
Why would a company do that?
I'll tell you honestly what the negative is......the chart...We'll see how it goes.
I was just going to say, analysts are coming out after the bell saying today's news is priced in. One analyst has a PPS target of $131 with this approval....My guess is when it opens, it gaps up a few points, then falls hard, but that's just my view.
of Lumacaftor to Orkamibi......this will be ugly when it opens.
I'm in....Low float, technical move that totally ignored the fundamentals of this company, which are good. This will be back into the mid $40's before the end of the week.
They're concerned, as they should be, about the avian flu having a broad effect on the fundamentals. But wait....Some boutique firm called Pivotal research upgraded the firm with a (are you ready?) $86 price target. The analyst admits he worked for the CEO of the company last year.....And they actually ALLOW these blatant conflicts of interest? Where's the SEC? Oh, that's right, they always turn the other way.
If there's a 60% chance YELP will be acquired as many said today, there's also a 40% chance it will not be acquired. And if there's no deal after exploring the market with Goldman, then YELP will trade on current fundamentals, which means it will return to $40 or so. I don't like those odds, so I'm just an innocent bystander. But if I were long at $40, and then had a profit here in the high $40 's, I'd take that money and run....the acquisition odds are not great......Just ask Altera (ALTR) shareholders.....
This may just become the short of the year.....I'm trying to wait until the shorts stop covering.....
But different this time......Today is obviously a short squeeze....what I can't figure out is given the fact they missed revenue numbers, even with the acquisition (and not much organic growth), and the bird flu problems are certainly forward looking, and yet the stock is still up almost 13%! In my experience, this kind of a candle print is almost always faded, esp. given the weak fundamentals....Maybe Monday?