Market Overview

Worried About Netflix? Here's An Uber Bullish Take

Worried About Netflix? Here's An Uber Bullish Take

On Wednesday’s PreMarket Prep, CEO Jerremy Newsome discussed his extremely bullish take on Netflix, Inc (NASDAQ: NFLX).

Netflix shares are getting hammered once again on Wednesday, down 3.8 percent following a report by research firm M Science that “churn among price-affected subscribers” was likely responsible for a Q3 domestic subscriber growth miss.

Newsome is not sweating Netflix’s slumping share price or its disappointing subscriber growth.

“I love the stock. I love what they’re doing. If Netflix goes down to $88, I will buy it again,” Newsome said.

Related Link: Netflix Under Pressure Amid Concerning Report About Domestic Subscribers

He also predicted that Netflix will be back at its all-time high of $130 again within the next 12 months.

“The stock is amazing; they put out great content. I’m ready for this thing to run on earnings. It looks so bullish to me I can’t even talk about it because it’s so great. I’m ready to play it any way I can – bullish,” Newsome concluded.

This week, Netflix management laid out its plan to focus on original content in coming years. The company has a goal of reaching 50 percent original content within the next few years. CFO David Wells added that that Netflix doesn’t need to hit “home runs” with original programming, especially relative to cost of production.

So far this year, Netflix shares are down 17.3 percent.

Posted-In: Jerremy NewsomeLong Ideas Tech Trading Ideas Interview Best of Benzinga


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