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Netflix Earnings Rally Not Over Yet, Hits New 2016 High

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Netflix Earnings Rally Not Over Yet, Hits New 2016 High
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Netflix, Inc. (NASDAQ: NFLX) shares are trading higher by $2.70 at $121.49 in Wednesday's session. That is on top of its $19 rally on Tuesday off its Q3 beat, rallying from Monday's close of $99.80 to $118.79.

Following a modestly lower open, it retreated only $0.25 to $118.00 before resuming its furious rally from Tuesday.

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Once the issue cleared Tuesday's high ($119.82), the pace of the rally accelerated. The ensuing rally has taken the issue to $122.26 before falling back into the mid $121 handle.

That high marked a new one for 2016 by only $0.08 as the former high was made on January 7 at $122.18.

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