NEW YORK (TheStreet) -- At some point, the inanity must stop. Because, you just better believe, boy, somebody's gonna get hurt tonight.
It's all fun and games until the stock stops going up ... abruptly. Until somebody gets caught chasing Netflix (NFLX), without realized or on-paper gains, and gets run over on the wrong side of the trade. Just the way it went down in 2011 when NFLX inanity pegged the height of insanity.
Allow me to list the reasons, in no particular order, why we have hit a dangerous wall with Netflix, the company, and NFLX, the stock.
Earlier this week in Netflix Is Not Coming to Comcast, TWC, I shot down the prior week's reports that ran the spectrum from Netflix In Talks to Become Part of Cable to Netflix Coming to Your Cable Box?Only two outlets that I know of picked up that story -- Fly on the Wall and Value Walk. That's in stark contrast to the previous week when literally hundreds of media organizations ran with what appear to be false reports. While I am confident in my sources, I could be wrong. No doubt. But that's not the point. I don't do this to collect kudos when I'm right and stand on a ledge in my underpants when I'm wrong. It's bigger than that. There's a horrific and very dangerous bias at play in the media when it gushes and fawns over one poorly sourced possibility and completely ignores another. How does a media pump one angle, yet act like other contradictory ones just don't exist. This is part of what I aim to correct or, at the very least, mildly disrupt. And it only gets worse.
Is Netflix's Latest Rerun Stream 'Exclusive?'How does Netflix define the word "exclusive?" Will the company ever stop playing a game of semantics with us? Or is the media just getting things wrong? Case in point: Here's how Variety, a well-respected publication, frames Netflix's recent deal with Showtime to stream reruns of Dexter:
Under the multiyear pact, Netflix will be the exclusive Internet subscription VOD distributor of the series. CBS also will sell TV syndication rights for "Dexter" to a cable network, with details yet to be announced (emphasis added).So, does this mean that Showtime, a division of CBS (CBS), will pull full seasons of the show from Apple's (AAPL) iTunes? Or will it remove Dexter from the Showtime everywhere app? I have queried Netflix's Investor Relations department -- cc: Reed Hastings -- to find out, but have yet to receive a response.
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