In what can only be described as watching a slow-motion car accident, the bad news around Netflix (NFLX) is starting to build. The stock has fallen from its near record highs of $380 to $259 as of this morning because of more analysts slashing their target rate for the stock. This year has been a tumultuous one for the streaming giant, with new competitors now crowding a customer base that was once almost exclusively Netflix. Many investment firms are saying that to make matters worse, the likelihood of Netflix will have a very poor quarterly earnings announcement (to be announced on 10/16/19) is becoming much more of a reality. If anyone is holding Netflix, I would highly suggest selling before they announce their quarterly earnings, because if what the market is saying is true, stock is going to be sold faster than the last Tickle Me Elmo was in the ‘90’s.
Enjoy this video from CNBC, it has some technical lingo, but is still interesting. To skip the technical talk, jump to minute 1:25
https://www.cnbc.com/2019/09/23/netflix-goes-negative-for-the-year-giving-up-a-46percent-gain.html
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