Wednesday, February 28, 2024
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Netflix And The S&P 500

The big earnings news Tuesday afternoon was Netflix (NASDAQ:NFLX) – remember when it would have been IBM? – but times have changed. I had no position in NFLX and frankly, I hardly ever touch the thing, but it was an explosive move higher. What surprised me was that, explosive or not, the rip didn’t even get it to its former high. Indeed, as I type, the stock’s gains are shrinking rapidly. I wonder if we’re at “Peak Netflix” now.

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