Cashtag Crowd Sees 10% Netflix $NFLX Drop Post Earnings Tomorrow
One of the most-anticipated companies of the earnings season reports tomorrow after the bell — Netflix — and the cashtaggers on StockTwits don’t like what they see.
Poor price action, higher content costs and Wall Street analysts fleeing the stock at the last minute before earnings has sentiment dropping before the results hit the tape.
Jan. 21 at 11:11 AM
Traders note that the stock — once loved by Carl Icahn — is taking out previous levels of support faster than Big Carl can take down Bill Ackman in the schoolyard.
Jan. 21 at 10:05 AM
contrarianspeculator Jan. 21 at 9:38 AM
Jan. 21 at 10:01 AM
To boot, some tough Net Neutrality rules possibly raising its distribution costs could end up squeezing Netflix on both sides (along with its ever-rising content costs).
The contrarian trade often works, but beware that the crowd is clearly scared of this one.
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