Netflix Stock Soared Last Friday. Time to Buy?

It's difficult to imagine a stock surging after a failed acquisition. But that is exactly what happened with (NASDAQ: NFLX) last Friday. Shares of the streaming specialist jumped nearly 14% after the company officially walked away from its $83 billion bid for Warner Bros. Discovery's (NASDAQ: WBD) studio and streaming assets.

For months, investors were spooked by the prospect of Netflix taking on significant debt and the operational complexities of a legacy Hollywood studio. But with management opting for price discipline over ego, the market breathed a sigh of relief.

With the stock rebounding sharply to about $96 per share, many investors are likely on the hunt, trying to decide whether this is a buying opportunity. After all, the underlying business has great momentum, so it's a good time to look at the stock.

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Source Fool.com