Netflix’s Virgin River topped the program list with 2.397 billion minutes streamed, followed by Stranger Things with 1.835 billion minutes and The Gray Man in third with 1.362 billion minutes. Equally important, Stranger Things has now accumulated over 44 billion streaming minutes, making it the most streamed show ever, and a show that helped fuel a slight recovery in the share price.
NFLX chart and analysis
In the last month, NFLX has been trading between the $220.88 to $251.99 range, with a negative long-term trend. Meanwhile, technical analysis shows the support line at $223.27 and a resistance line at $233.67. In the recent trading session, the shares closed below the 20-day and 50-day moving averages. TipRanks analysts rate NFLX shares a ‘hold,’ seeing the average price in the next 12 months reaching $229.61, 2.84% higher than the current trading price of $223.28. Further, 77% of all other stocks performed better in the past year than NFLX.
Risky play
Besides dominating the streaming, Netflix has been dominating the news as well, with rumors that it is considering pricing a $7 to $9, monthly plan that will include ads. Apparently, the service will target four minutes per hour of ads in the beginning. Finally, the stock is down over 60% year-to-date (YTD), and in a tough investing environment and strengthening competition it would be advisable for market participants to stay on the sidelines regarding NFLX at least in the short-term. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
