Should You Trade Netflix Stock After Earnings?

Benzinga2021-04-21

Co-hosts Joel Elconin and Dennis Dick discussed trading Netflix Inc Wednesday on Benzinga's YouTube show "PreMarket Prep."

What Happened:Netflix reported first-quarter earnings after the close Tuesday. The stock fell more than 10% as the company issued lower-than-expected second-quarter sales guidance.

If Netflix gets above its Wednesday premarket high at $505.10, "you can look for more upside," Elconin said.

Netflix has a long way to go to fill the gap back to $546.30, he said.

In regard to the stock's potential to fill the gap Wednesday, "just forget about it," Elconin said.

$500 is a big psychological level, the "PreMarket Prep" co-host said.

Elconin said he wants to see if Netflix can hold that level over the next few days.

If it does, he said it's possible the stock could work its way higher, but added he has "no interest in buying" Netflix right now.

Co-host Dennis Dick compared Netflix to Tesla Inc.

In the same way that Tesla was the only electric vehicle play for awhile, Netflix was the only play for streaming, he said.

Netflix now has major competition, Dick said.

NFLX Price Action:Netflix was down 7.25% at $509.70 at last check Wednesday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • Check7mate7
    2021-04-22
    Check7mate7
    Gd
  • LibeQ
    2021-04-22
    LibeQ
    I think their content not so good anymore. Like n comment [Thanks]
  • Rinachew
    2021-04-22
    Rinachew
    .
  • ThaigerB
    2021-04-22
    ThaigerB
    Like and comment ??
  • IamBolt
    2021-04-22
    IamBolt
    Like and comment
  • Korimerla
    2021-04-22
    Korimerla
    Yes we can buy and wait.
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