Apparently, a new season of the show ‘Stranger Things’ the company released has so far racked up 287 million viewer hours. WinView Inc’s Executive Chairman, Tom Rodgers, speaking on CNBC’s Squawk Box, commented on these numbers.
NFLX Chart and analysis
Meanwhile, towards the end of April on increased volume, the shares lost the $330 floor and were dumped all the way down to the $250 level. Currently, shares are trading above the 20-day Simple Moving Average; however, down over 65% year-to-date (YTD). Similarly, analysts rate the shares a hold, predicting that the average price of shares could reach in the next 12 months to be $295.80, which is 47.81% higher than the current price of $200.12.
Inflation an opportunity
Nevertheless, discussions around the massive number Netflix reported prompted another observation by Tom Rodgers. Rodgers considers this to be an enormous amount in terms of the number of viewings, but he acknowledges that it is something that can be anticipated from Netflix. Since the last earnings report, he brought up the recession inflation concern, for which everyone has been prepared and taking into account. Allegedly, NFLX could benefit from the inflation, if it prompts people to cut back on their cable and digital TV bundles, which in turn could benefit streaming service providers. With viewing hours like the company just posted and possibly more hit shows to be released on the horizon, such claims perhaps could carry certain merit. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
