Netflix are on track for another all-time high achivement
Show me the money! 24 June 2020, by Vladimir Rojankovski, Grand Capital' Chief Analyst
Shares of Netflix (NFLX) are on track for another record close, as the streaming video giant boosted by a combination of a rally in large-capitalization technology stocks, and the recent surge in COVID-19 cases in the U.S. suggesting another nationwide lockdown story and people confined to watching home videos are possible. The stock is also heading for a 7th-straight trade session gain, which would be the longest streak since the 8-day stretch ended Jan. 29, 2018. There was a 9-day stretch of no declines.
There is the only drawback for the company’s EPS estimates for fiscal 2021 – namely, foreign exchange impact and higher cost of goods sold due to the possibility of higher charges for heavier internet traffic by certain regulators.
Shares of Netflix (NFLX) are on track for another record close, as the streaming video giant boosted by a combination of a rally in large-capitalization technology stocks, and the recent surge in COVID-19 cases in the U.S. suggesting another nationwide lockdown story and people confined to watching home videos are possible. The stock is also heading for a 7th-straight trade session gain, which would be the longest streak since the 8-day stretch ended Jan. 29, 2018. There was a 9-day stretch of no declines.
There is the only drawback for the company’s EPS estimates for fiscal 2021 – namely, foreign exchange impact and higher cost of goods sold due to the possibility of higher charges for heavier internet traffic by certain regulators.