Dan expects one more big gap lower in the stock.
Dan also says he would not be waiting around for another company to come in and buy Netflix.
Dan is long the stock and is waiting for another gap lower. He says the bottom is going to take awhile because the transformation of this company is going to take awhile.
Dan also says he would not be waiting around for another company to come in and buy Netflix.
Dan is long the stock and is waiting for another gap lower. He says the bottom is going to take awhile because the transformation of this company is going to take awhile.
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NewsTranscript
00:00 - Talk about what they're gonna come out with.
00:02 I mean, the options market's pricing
00:03 about a 14% move in either direction.
00:05 Last quarter, the stock sold off 35%,
00:07 25% the quarter after that.
00:08 So here's the good news about having that
00:10 kind of whisper number about the amount of subs
00:12 they're gonna lose.
00:13 It's kinda out there if it's not much worse than that.
00:16 I do expect one more big gap lower in the stock,
00:19 but I would not be kinda waiting around
00:22 for some big company to buy,
00:24 a company that is run by Ted Sarandos and Reed Hastings.
00:27 I don't think those guys are gonna be selling
00:29 for $75 billion market value, that sort of thing.
00:32 So to me, I think that's gonna be a really tough
00:34 pill to swallow here, but I'm long the stock.
00:36 I bought it last month,
00:37 and I'm actually waiting for another gap lower.
00:40 This bottom is gonna take a while
00:42 because the transformation of this company
00:43 is gonna take a while too.
00:45 So I don't think there's any V reversal