Tuesday, November 24, 2020

Tag: One of the world’s most popular tech companies just lost another $2 billion…

One of the world’s most popular tech companies just lost another $2 billion…

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by Simon Black, Sovereign Man:
Last night Netflix executives announced that a record 104 million people worldwide now subscribe to its service.

This number handily beat what analysts were expecting, and the stock SURGED nearly 9{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} to an all-time high. Netflix is now trading at more than 200 times earnings.

Look, I like Netflix. House of Cards is entertaining.

But you shouldn’t invest in a business based on its number of customers and quality of content alone.