Published on 8 Oct 2021 on Simply Wall St. via Yahoo Finance
Netflix (NASDAQ:NFLX): Valuation is Still Reasonable - but Sentiment Will Drive the Price
This article originally appeared on Simply Wall St News.
Netflix, Inc. ( NASDAQ:NFLX ) has been a standout performer over the last two weeks. While the broader market, and specifically technology stocks, have declined the most since May, the price of Netflix shares has gained over 13%. This move has largely been attributed to the success of the new hit show Squid Game, which is on track to become the platform’s most streamed show. Netflix has also dominated the ratings in the latest Nielsen Top10 Streaming programs surve y.
The latest price move confirms the stock’s breakout from a trading range which has frustrated market participants for over a year. Potential investors may now be wondering whether it's still worth chasing the stock at current levels.