Netflix Inc. (NASDAQ: NFLX) is playing a serious game of give back after it was the top S&P 500 stock in the first quarter. Shares doubled yet again during the bull market’s run up from January to March, but the drop on Wednesday is a drop of about 5.5% to $166.50, and shares are literally all over the place.
Drops like this are of course very interesting and mandatory to watch, but the speculation seems to have been that activist investor and billionaire Carl Icahn has started to unload the stock.
While we were looking for an explanation of today’s move, CNBC said that they have contacted Icahn and that he has not sold shares into the strength. The report said that Icahn has not sold a single share of the stock.
Netflix has been a serious mover, up almost 300% from the trough of 2012 to the peak of almost $200.00. Analysts have been playing catch-up here, and the reality is that they have by and large missed the boat, as the consensus price target on this stock listed by Thomson Reuters is down at about $139. Today’s trading volume of 5.6 million shares already has surpassed the daily average.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
