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  • Writer's pictureT. Livingston

NFLX-Worth Watching

Stock market breadth continues to be narrow, with most of the higher performing stocks being large cap companies with popular brands. Amazon (AMZN) is one of these names, and it showed very positive action today. Netflix is also setting up well and "worth watching" in my opinion. While NFLX is by no means a new stock or an unfamiliar name, it is still the dominant leader in streaming. 2022 was down year for Netflix, but things are looking better for 2023 and 2024. NFLX's most recent quarter saw earnings and sales increase by 3%.

NFLX has been one of the market's strongest performing stocks over the past twelve months, as it has more than doubled since last October. As is the case with Amazon, I believe funds and institutions are not ready yet to venture out into less familiar names. Instead, it looks like they are looking to buy well-known companies to gain exposure to the market. If that trend continues, NFLX is likely to continue higher. I will be monitoring NFLX in the coming days for a potential buy point.

Risk right. Sit tight.

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Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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