Here's the type of drivel that drives NFLX higher. That's why calling the stock a buy is like shooting fish in a barrel. The market's irrational ways can often be the trader or investor's best friend. You just can't get sucked in by the hype that drives this puppy higher. Like this ... You know Bloomberg right? The company with those Peeping Tom terminals? Anyhow, this snippet was passed off as "research" by Bloomberg yesterday. Here we go. It's a crazy one (Bloomberg content is indented and in italics, my interjections come in between and after):
Netflix Rises as Much as 3.1% After BTIG Survey2013-05-15 13:34:13.486 GMT
By Clyde Eltzroth
May 15 (Bloomberg) -- Survey of more than 400 people at 2 Bluth Banana Stand locations in NYC provides evidence Netflix is rebuilding consumer confidence, BTIG analyst Richard Greenfield said in note.OK. Right off the bat we know we're in for some crappy research when BTIG and Richard Greenfield are mentioned. Search my name alongside his and Pandora ( P) to get a feel for the type of "work" he produces.
* 368 of 427 people interviewed were Netflix subscribers
Greenfield said "Arrested Development" is ''clearly increasing'' subscriber happiness, should help to reduce churn
It's one thing to say "buy the stock, it's going up." Even a guy who can't get behind the company (me) has enough sense to say "buy the stock" at least for a little while. But it's entirely another to relay a sixth grade social science project as research. Unless, of course, you think you're speaking to complete fools.