Thank You Netflix

By John Bannan | January 23, 2018

DPR Update: I am moving my stop to $85.50 to lock in some more profit. No other changes.

The Nasdaq composite hit yet another record high today after Netflix shares surged on stronger-than-expected subscriber growth.

According the CNBC, The video streaming giant said that total net adds reached 8.33 million, well above a StreetAccount estimate of 6.39 million. Netflix’s stock surged 10 percent, lifting the company’s market cap above $100 billion for the first time.

As of November last year they reported approximately 110 million subscribers worldwide with about half in the US alone. Amazing.

Anyway, this rally shows no sign of abating, and I have now likely locked in a sizable profit in this latest trade 🙂

Good trading,

John