After a two-month swan dive climaxing in an earnings miss, Netflix (NASDAQ:NFLX) has bounced back. Shares of NFLX stock that traded as high as $690 in November fell to just $366 after a disappointing earnings report. Netflix said its global subscriber count rose just 9% in the fourth quarter of 2021 after jumping 22% the previous year. Margins and net income also dropped.
However, an upgrade from Citigroup from neutral to buy — and a purchase of $20 million in shares by CEO Reed Hastings — had Netflix opening for trade on Feb. 2 at about $448 per share. Now investors are asking whether the bears had it right or if there’s still a bull case to be made for NFLX stock.
Here’s what you should know about this stock moving forward.
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