19/09/2023 09:23

Netflix Inc (NFLX US) $US394.40

Netflix (NFLX US) slipped -0.6% overnight making fresh 4-month lows in the process, never a good sign in a positive session. NFLX has been letting its peers down in the FANG+ Index, it remains over 40% below its 2021 high while other big tech names such as Microsoft (MSFT US) and Apple Inc (AAPL US) have been posting fresh all-time highs in recent months.

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19/04/2023 09:20

Global Markets

The US market closed basically unchanged overnight as investors weighed further bank earnings against additional comments from 2 Fed officials who favour ongoing rate hikes to combat inflation. Goldman Sachs (GS US) slipped lower following its report while the Bank of America (BAC US) rose, its extremely early in reporting season but the VIX is comfortable trading at its lowest level since January .

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24/01/2023 09:21

Netflix (NFLX US)

Netflix rallied another +4.4% overnight, this subscription streaming service has now more than doubled over the last 6 months after plunging from late 2021 illustrating the ability to bounce by the battered growth stocks.

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26/04/2022 09:28

Chart of the Week

Netflix has plunged over 70% from its 2022 high illustrating both perfectly and painfully that when stocks which are priced for growth disappoint with their earnings / outlook they will be savaged by the market i.e. the first loss as painful as it may be is regularly the best loss!

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21/04/2022 09:04

Netflix (NFLX US) $US226.19

The world’s largest streaming provider fell 35% overnight and is now down ~70% from its 2021 peak following a decline in subscriber numbers in the first quarter of the year. Netflix has been growing at a rate of around 25mn new subscribers per year delivering it a paid user base of an astonishing 221.6mn, however, Q1 saw a loss of 200,000, the first loss in a decade, plus they flagged more declines...

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01/04/2022 09:21

Netflix Inc (NFLX US)

Netflix has weighed heavily on the tech sector having more than halved from its late 2021 high as investors clearly decided that the company’s performance didn’t warrant the huge valuation it had previously enjoyed. However after plunging so far we believe the risk / reward now favours the aggressive trader under the $US380 level  – MM can see a test of $US450 in the coming weeks / months.

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22/02/2022 09:23

Netflix (NFLX US) $US391.29

Netflix has halved through recent months on weaker than expected subscriber growth. We believe the risk / reward is attractive for aggressive players buying NFLX under $US350 targeting a 20-25% bounce but I stress this is more of a trade as we aren’t looking to accumulate this streaming company long term into current weakness.

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04/02/2022 09:25

Netflix (NFLX US)

Netflix saw its stock plunge last month as subscriber growth slowed, we are now in a very unforgiving market when it comes to high valuation /growth stocks not delivering – the she’ll be right attitude of recent years has gone as bond yields edge ever higher.

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31/01/2022 09:20

Chart of the Week

Friday saw Apple Inc (AAPL US) rally 7% after they smashed analysts’ expectations by delivering record revenue and profits which helped to restore confidence in many pockets of the market that have been hit by supply chain constraints. Last week saw US tech illustrate exactly what MM is expecting through 2022:

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19/01/2022 09:39

International Equities Portfolio

The MM International Equities Portfolio fell -2.02% during the week while cash remains at 4%. The main headwind on performance came from The Trade Desk (TTD US) which fell by -16.39% on no specific company news, simply the move out of high value tech. PayPal (PYPL) & Microsoft (MSFT) were also caught up in the move down -8.95% & -3.96% respectively. On the flipside, the resource stocks in this portfolio did well, both BHP and Glencore up more than 6%.

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