Netflix Inc. NFLX Shares,
skyrocketed 14.2% in Wednesday’s pre-market trades, putting them on track to open in record territory, after the video streaming giant reported after the fourth quarter’s subscriber boom in the previous session, while the profit did not meet expectations. If the stock maintains its initial gain until the close, it will mark the best one-day post-profit performance, as it reported results for the third quarter of 2016 on October 18, 2016, when the stock rose 19.0%, according to FactSet data. Netflix’s results generally disappoint investors, as stocks fell the day after the last four quarterly results and after seven of the last eight results. In the past 20 quarters, the stock rose the day after earnings only seven times. The stock is headed for an opening well above the record closing September 1, 2020 of $ 556.55, but below the intraday high of $ 575.37 seen on July 13, 2020. It fell 4.5% in the past three months until Tuesday, while the S&P 500 SPX,
gained 10.3%.
