Netflix Stock Hits New All Time Highs as Shorts Squeal
One had a rare chance to get onto the Netflix (NASDAQ:NFLX) train during the mid month swoon in June, but as a leadership stock – once the market turned, Netflix gallops. This morning’s news about a 43 country expansion has the shorts on fire again in this name – as an infamous commentator on financial infotainment TV likes to say “It’s been a house of pain”.
- Netflix Inc is expanding its online video service to 43 countries in Latin America and the Caribbean. This is Netflix’s second foray outside the United States. It began offering its services in Canada last year.
- Netflix said on Tuesday that subscribers in Mexico, Central America, South America and the Caribbean will be able to access shows and movies in Spanish, Portuguese or English later this year.
- Netflix has more than 23 million subscribers. By contrast, Comcast, the No. 1 U.S. cable operator, has 22.8 million subscribers as of March 31.
Trader Mark is the author of Fund My Mutual Fund.