Netflix breaks record by jumping from 354.99 to 389 (almost 10%) during after-market trading as soon as earnings report was released just after the market closed
Netflix's reported earnings of $0.52 EPS that beat estimates of $0.49 & issued strong guidance for Q4
Subscribers increased a massive 1.29 million in US & 1.44 million overseas
Expected numbers were 1.1 million & 950k
If it follows Google's trend, it'll reach 400 & stay above it for a day or two
It is also unlikely that Netflix investors will sell their stock tomorrow just after they bought it today, therefore it shouldn't drop too much even if there's bad economic news tomorrow
There's a possibilty for previous stock holders to take profit but after it broke record & looks to go up higher, they might have second thoughts
Short sellers would also avoid momentum stocks such as Netflix for now
Although the stock market is technically overbought & should pullback, investors do not seem to care, which makes it harder to determine the market's direction
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