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After monster pop at the open, Netflix gains likely not done

By dailymail / Published on Tuesday, 18 Jul 2017 13:45 PM / No Comments

Netflix shares are set to surge by nearly 10 percent at the open of trading after posting much better-than-expected subscriber numbers Monday evening. But don’t worry if you missed this move, it’s not too late to get in on the party, history shows.

Since 2002, of the 17 times earnings pushed shares of Netflix up by 10 percent or more at the open of trading the next day, the stock continued higher from the open to close in 14 of those instances, Bespoke Investment Group tweeted on Tuesday.

One reason for the rally as trading continues throughout the day may be the bull calls from Wall Street that come flowing in. For example, Bank of America Merrill Lynch released a note to investors on Tuesday making the case for a 70 percent further surge in the price to $300.