Netflix Stock Soaring for No Apparent Reason
When you hit rock bottom you really have two choices, pull yourself up by the boot straps or die and it looks like Netflix is doing just that. From a disastrous string of bad decision making and a stock value that hit rock bottom, Netflix is now trading at $77.07 which is up $5.05 or 7%. In June Netflix surpassed 1 billion streaming hours of video content for a one month period. The first time they had done that. Netflix has been very busy working on International markets and investing heavily to broaden their reach.
Let’s hope they keep working hard to expand their content portfolio and not make any more bad decisions like raising prices by 50% or trying to divide into to two businesses and separate streaming from DVD sales (Qwikster), I think they will be okay.
Are you saying that Netflix is soaring because of the Kindle Fire?