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Wednesday, September 7, 2011
Is the NFLX Reign of Terror Over?
Amidst all the green today, there is one stock which is notably not participating. NFLX, long the darling of momentum investors and the bane of value investors' existence, is down 2.3% even as the S&P 500 is up nearly 25 points. The stock is down 30% since hitting a high of $300 per share and news flow has seemed to move against the company in recent weeks (e.g. lack of a Starz extension and a poor reception to price increases). Many a short has been carried out on his shield trying to battle the Netflix beast, but as the chart begins to break down, is the reign of terror finally over?