Why Netflix Stock Is Up 5% Today
Netflix (NASDAQ: NFLX) stock is trouncing the market in the hours leading up to its Tuesday afternoon earnings announcement. The streaming video giant's shares rose 5% by 2:45 p.m. ET on a positive day for the wider market as the S&P 500 jumped nearly 3%.
That rally erased almost none of the losses that investors have seen in the stock this year, though. Netflix shares remain down nearly 70% so far in 2022. The boost likely reflects hopes that this decline went too far, and that the company will have brighter news to report in its upcoming earnings announcement.
At around 4 p.m. ET, Netflix will reveal operating trends for the fiscal Q2 period, and expectations could hardly be lower heading into that report. Executives projected a loss of roughly 2 million subscribers after all, which would mark among the worst growth performances that shareholders have seen since the company pivoted into its streaming video model over a decade ago.
Source Fool.com
