Buffett to Lose Hundreds of Millions of Dollars. Apple to Acquire Netflix! - stock market LIVE TV
The announcement is out any minute now! Netflix long-term investors to be rewarded with the highest return on investment ever in the markets! Apple is going to pay for it and you're going to be flushed while savvy investors worldwide continue laughin
Why the drop today, I wonder.
22 million people could be part of a class action against the streaming company.
A Netflix customer who says he was promised a $7.99 per month subscription fee for the life of his account is suing the streaming giant for increasing its prices, according to a proposed class action lawsuit filed Wednesday in California federal court.
"For a period of time, Netflix solicited persons to subscribe to Netflix's streaming service by guaranteeing that Netflix would not increase monthly subscription prices as long as the subscribers maintained the subscription service continuously," states the complaint. "Netflix has broken its contract with these subscribers by unilaterally raising monthly subscription prices."
George Keritsis says he saw an ad promising that Netflix would guarantee the $7.99 monthly subscription price and called the company to confirm it was true. The telephone representative ensured Keritsis the fee would be "grandfathered," and he subscribed based on that representation.
In October 2012, his rate increased to $8.68 per month. In June, Keritsis received an email from Netflix informing him that his "special pricing" is ending and his new price would be $9.99 per month. The email listed a phone number for subscribers who had questions, so Keritsis called.
"The Netflix representative stated that he could see Plaintiff's account was 'grandfathered in,' states the complaint. "Plaintiff protested that the price increase was inconsistent with the lifetime price guarantee. The Netflix representative stated that Netflix would raise prices for all grandfathered accounts, not just Plaintiff's account."
Keritsis is suing Netflix for breach of contract and is seeking class certification for "all persons who entered into an agreement with Netflix for a streaming plan at a subscription price that Netflix promised not to increase for as long as they continuously maintained their subscriptions." He says that's at least 22 million people.
Netflix has not yet commented in response to the lawsuit.
Looks very strong today. Seems to want to get back to the 166 high. I think it will get there in about a month but am expecting a short term slight pullback here from 158 and change. Too much too fast.
Anybody else watch the desperate MM after hours manipulation. It is getting harder and harder to hold up the distorted pps valuation. When the first big institutional holder blinks and gets a little to anxious to book profits enough so that it causes a shift in bot algos could result in quite a spectacular correctional shake out. The big money that are not big holders, will not be buying at this unsustainable valuation but are holding back, circling like vultures patiently waiting for the inevitable. The hand writing is on the wall. Under 100 could be a good entry point.
I joined Netflix 10 years ago and love it. One thing I don't like is they have gotten away from buying movies from Hollywood and instead are depending and investing heavily in original content. That's great and they have had some great shows but they are beginning to all look the same and generic. I would like to see them get a few more movies actually produced in Hollywood for download.
See those yahoo articles on the dot.com bubble and how this market isn't that crazy? That's when the term "burn rate" was utilized to apply to companies that went public with no profit or perhaps little sales. How long could they run until they reached the cliff. Borrowing money through bonds was out of the question, no one would lend them money under that business model. Not today, bond leverage for everybody! The ECB will buy anything. Anyway, that article was just a different way of saying "It's different this time."
Good news are coming soon. They need to borrow another 1 bln ( senior notes again)
Careful buying FANG, looks like 10% correction in the works.
I have netflix service and it is not for originals. Everything I watch is syndicated. If they jack the price in which they will have to in order to keep up with valuation. I will drop it. P.S.- Kiosks are taking over movie rental and Netflix is helping them do to the poor service.
Bubble is not far from being go bonker. Entire market is in a big bubble. When you start seeing average joe on the street investing in bitcoins and the like, its time.
Of the FANG stocks, NFLX has the highest PE and lowest potential. And they are too expensive to be acquired.
Look at the insiders, as soon as they receive stock through exercise options they sell ALL the shares, not just like 30-40% to cover taxes. What are they trying to tell you, some vote of confidence on the future stock price.
Someone find me a needle let me reach out to this bloated balloon 🎈
Popular strategies like Covered Calls create small gains with large risk. Merger arbitrage can be tricky, as evidenced by Genworth and Rite Aid. Human perceptio
Steven1 minute ago Overall impartial view of Netflix. Full Disclosure... I am a shareholder. Valuation is getting a bit high here for certain. However, folks need to realize the enormous accomplishments of this company. The entertainment business (TV/Movies, etc) has been dominated for the past 6 decades by a few powerhouse companies including several studios and TV broadcasting networks. What most people fail to recongnize about Netflix is how they were able to enter this realm of business and gain serious marketshare both through original content and movie/series contract deals. Classic case of David and Goliath. Not only has Netflix entered this market/industry, but more importantly they have established themselves as a dominant player. They can reach the entire globe with their services, not tied to any regional cable company restrictions, etc. Look at what they have done to Direct TV... Direct TV is shifting their business model to 100% streaming and have been reduced to an App called Direct TV Now. I remember 6 years ago how the CEO of Direct TV laughed at Netflix... who is laughing now. :) I have not had cable in over 5 years. I watch Netflix and HBO Go exclusively. I can watch it anywhere anytime. That is awesome and I get to watch international shows on Netflix that American Cable companies never broadcasted on their channels. Netflix is truly an amazing business. Apple, Facebook or the likes of Verizon would be wise to buy this company. Disney missed their chance to buy Netflix as they can no longer afford the company. Apple or Facebook would be the best fit... the myriad of ways to produce additional revenue streams with the Netflix brand are unlimited. Netflix is just getting started and has and will continue to change the way the world accesses entertainment. Enjoy!!
100M company in the making
RAD up over 23% and climbing... heads up fellow Netflix users... Check out the CODE on Netflix....