NFLX Rips Almost $60 after Earnings Release

Netflix, Inc (NFLX) is a streaming television service with over 30 million members.  On todays close the stock was trading at $333.73 in a 52 week range of $96.59-$389.16. The stock has been on fire over the past 12 months with share rising over 236%. NFLX reported their most recent quarterly earnings after the bell today it topped analyst estimates sending the stock soaring in the after-hours session. NFLX is currently trading at $394.77, a level that represents a new 52 week high, with over 1.3 million shares already traded in the extended session. NFLX shares are popping after the company reported EPS of $0.79 vs. $0.65 estimated. The company also reported a growth in subscribers with NFLX adding 2 million new users in the quarter. The stock has already moved more than expected as market makers were pricing in only a $33 move on earnings.  With stock making new 52 week highs in the extended session traders will eye the open tomorrow to see if the shorts re-enter at these levels or if the bulls will firmly take control in NFLX.

Andrew Keene

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