Jim Cramer On 'Astounding' Netflix: 'I Watch Everything They Do'
According to Jim Cramer, Netflix, Inc. (NASDAQ: NFLX)'s earnings reports have become very difficult to predict so when the company reports a better-than-expected print, as it did on Monday, it makes it astounding.
Cramer suggested that Netflix's stock could be compared to that of a movie studio and when it has a hit feature then the stock reacts accordingly.
In Netflix's case, "Narcos" was a huge hit and drove large amounts of traffic to Netflix's platform.
Moving on, Cramer suggested that Netflix is also benefiting from a growing trend of people staying at home, ordering a pizza and watching Netflix - including himself.
"I watch everything that they do," Cramer said in reference to Netflix's original content. "I gotta tell you, what I did is I bought an iPad Pro and Netflix is astoundingly good."
Cramer also went on to label the company's CEO Reed Hastings as a "true visionary" for realizing this trend and capitalizing on it. He is also questioning investor logic in doubting Hasting's ability to build on a vision while other CEOs get a free pass. After all, Hastings keeps on proving himself over and over again.
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