Posted By RichC on July 13, 2015
Back in mid-2011, Netflix management frustrated their users by splitting their DVD and streaming services. They upped subscriber subscriptions by 60% in some cases and created a flurry of cancelations. The CEO, Reed Hastings, came out publically and admitted he “messed up.” He was of course responding to both angry users and the shareholder who were feeling the pain from the plummeting stock price that followed.
I took the opportunity to buy some NFLX stock when it was below $100 but unfortunately sold it as soon as it inched back up 10%. Boy did I miss this run …
Netflix (NFLX) stock in up 5% today rocketing past the $700/share mark and rewarding shareholders with incredible returns not only for 2015 so far, but since a below $100 low in 2012.