Not all content owners are happy with the idea of giving away their premium content to millions of subscribers for eight bucks a month. Don't expect too many more big media outlets to make the same mistake Disney (DIS - Get Report) made. As Netflix attracts more subscribers, it will have to attract more and better content to keep up the pace. To do this, it will have to charge more. Simple as that. I was right in 2011. I am right now.
The only difference? In 2011, I let emotion take over as NFLX ran to $300. I would not give in and say, yeah, get long because this thing's going higher. I'm smarter after having been through that rodeo.
This irrational market will help NFLX continue to soar. Most likely after a slightly bigger breather than it took around $100. But don't let Hastings or Wall Street's renewed enthusiasm for his stock fool you. The problems that led to 2011's implosion have not gone away.