It's Odd to See Netflix Trading Lower in 2019
Netflix (NASDAQ: NFLX) shares have been rocked hard in recent months, but it wasn't until this week that the stock officially went underwater for the first time in 2019. The stock closed below last year's final trade of $267.77 on Monday, and the pessimism continues into the week.
The shares were moving lower for the fifth consecutive trading day on Tuesday, after Pivotal Research analyst Jeffrey Wlodarczak slashed his price target on Netflix stock from a Street-high of $515 to a pedestrian $350. It's the latest setback for what has been one of the hottest stocks over the past decade. It's also odd to see Netflix take a breather in an odd-numbered year.
Image source: Netflix.
Source Fool.com
