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.
In a report published Tuesday, Oppenheimer analyst Jason Helfstein suggested that the recent weakness seen in shares of Netflix, Inc. (NASDAQ: NFLX) creates a buying opportunity ahead.
Helfstein noted that shares of Netflix have fallen around 15 percent from its 52-week high and are trading close to the 150-day moving average on concerns of increased competition from HBO GO, Dish's Sling TV and Apple's desire to launch a subscription based video service.
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"With NFLX shares down 15 percent from their 52-week high, and close to their 150-day moving average, we believe this creates a good buying opportunity ahead of a record number of tier-1 original show launches," Helfstein wrote. "History suggests that tier-1 original shows have the highest impact on net subscriber additions."
Helfstein expanded that Netflix did not have "House of Cards" or "Orange Is the New Black" when it initially launched in France and Germany, as these series had been licensed to cable. On the other hand, over the next four months, Netflix will premier five new shows on a global basis.
The analyst also stated that Google Trends data pointed towards "solid momentum" in Brazil and Italy, with near-term improvement in all other territories since March 8.
Shares are Outperform rated with a $483 price target.
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.