Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Three of the best-performing tech stocks since the market low of March 2009 are Netflix, Inc. (NASDAQ:NFLX), Amazon.com, Inc. (NASDAQ:AMZN) and Nvidia Corporation (NASDAQ:NVDA). If investors were to pick one to hold over the next 3,500 days, which would it be?
The Analyst
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Oppenheimer's Ari Wald and Blue Line Futures President Bill Baruch discussed Netflix, Amazon and Nvidia during a recent CNBC "Trading Nation" segment.
The Thesis
Shares of Netflix, Amazon and Nvidia are up 5,825, 3,002 and 2,886 percent, respectively, since March 9, 2009. Among the three names, one stands out as a near-term opportunity to buy for the long-term: Netflix.
Netflix's stock has come under pressure in recent weeks, Wald said. The stock's sell-off comes at a time when the 200-day moving average has been rising since 2016. In addition, the stock's 50-day retracement of its year-to-date gains offers investors "good support" around the $300 level, he said.
Blue Line Futures' Baruch agrees. A rally in Netflix's stock is imminent, as investors are getting over the recent earnings report and its "big, bad scary wolf" of a subscriber number miss, he said.
FREE REPORT: How To Learn Options Trading Fast
In this special report, you will learn the four best strategies for trading options, how to stay safe as a complete beginner, a 411% trade case study, PLUS how to access two new potential winning options trades starting today.Claim Your Free Report Here.
The streaming video company continues to produce new content, and the stock will return to its leader status this year, Baruch said.
"You'll see this stock get back to its all-time high."
Price Action
Netflix shares were up 1.88 percent at $344.38 at the time of publication Wednesday.
Related Links:
Wall Street's Reaction To Netflix's Q2 Earnings Report
Which Is The Better Buy: Netflix Or China's Fast-Growing Iqiyi?
Photo courtesy of Netflix.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.