Netflix Stock is Hot (NFLX)
After posting yesterday that Blockbuster (BBI) stock tanked 77% after it hired a bankruptcy team I couldn’t help but notice that Netflix (NFLX) who we can indirectly deem the, “Blockbuster killer” is sitting just below its all time price highs.
After digging deeper it is very apparent that Netflix has not been hit too hard by the ensuing bear market. The stock is actually up over 40% from its $26.62 close at the end of 2007. Currently trading around $37.50 today Netflix is only off some 9% from its all time high of $40.90.
Simplified stock chart analysis below with both a daily and weekly view of the stock. Note the consistent higher highs that have been made over the last several months. Low priced movie rental subscriptions are here to stay.
