Netflix (NFLX) Thinks You're an Idiot
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Netflix (Nasdaq: NFLX) might need to slow it down a notch.
According to a blog post on the official website, and then a subsequent press release, Netflix is backing-off splitting its DVD business from its streaming movie business.
Netflix is also keeping pricing the same.
The post, written by CEO Reed Hastings, said, "it is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs." Two possibilities might be drawn from this statement: 1) Netflix's Board might need more adult supervision at it's next meeting so that things might be "thought through" before being executed, or 2) Netflix believes it's subscriber base in a bunch of blubbering idiots incapable of using two simple, separate websites.
So, after "messing up" with it's pricing, as Reed previously admitted, and this screw-up, how many more balls does Reed get a shot at before he strikes out?
And will Netflix go back to it's record $304.79 price level reached in mid-July, or will investors have learned their lesson about momentum stocks?
Shares are 6.5 percent higher Monday morning.
According to a blog post on the official website, and then a subsequent press release, Netflix is backing-off splitting its DVD business from its streaming movie business.
Netflix is also keeping pricing the same.
The post, written by CEO Reed Hastings, said, "it is clear that for many of our members two websites would make things more difficult, so we are going to keep Netflix as one place to go for streaming and DVDs." Two possibilities might be drawn from this statement: 1) Netflix's Board might need more adult supervision at it's next meeting so that things might be "thought through" before being executed, or 2) Netflix believes it's subscriber base in a bunch of blubbering idiots incapable of using two simple, separate websites.
So, after "messing up" with it's pricing, as Reed previously admitted, and this screw-up, how many more balls does Reed get a shot at before he strikes out?
And will Netflix go back to it's record $304.79 price level reached in mid-July, or will investors have learned their lesson about momentum stocks?
Shares are 6.5 percent higher Monday morning.
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