WOW... Netflix (NFLX) Just Saved Themselves From an Epic Collapse
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Price: $73.37 -2.78%
Rating Summary:
58 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 17
Rating Summary:
58 Buy, 25 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 14 | Down: 11 | New: 17
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Today, Netflix (Nasdaq: NFLX) reversed their plans to split its DVD and streaming businesses, which would have resulted in a new company called Qwikster.
So what, you ask?
According to analyst Ingrid Chung at Goldman Sachs, if the company had followed through with these plans it "could have lost the majority of the 12 million hybrid subscribers."
These hybrid subscribers represent nearly half of the company's 24.6 million domestic subscribers.
Chung is calling the company's reversal a positive as it shows the company is finally listing to customers.
Investors in Netflix should be counting their lucky stars that Netflix didn't follow through with this would-have-been epic failure.
So what, you ask?
According to analyst Ingrid Chung at Goldman Sachs, if the company had followed through with these plans it "could have lost the majority of the 12 million hybrid subscribers."
These hybrid subscribers represent nearly half of the company's 24.6 million domestic subscribers.
Chung is calling the company's reversal a positive as it shows the company is finally listing to customers.
Investors in Netflix should be counting their lucky stars that Netflix didn't follow through with this would-have-been epic failure.
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