Netflix shares blasted through $100 for the first time ever today, following a solid earnings performance yesterday, strong guidance, and impressive traction for the company’s streaming video service.
Factoring in today’s 16% rise, Netflix shares have now effectively doubled since the beginning of 2010.
Netflix shares do trade at a high multiple, but any gains make the WSJ’s Martin Peers look even more ridiculous for his call 13 months ago that Netflix’s “stock-price bubble may be close to bursting.”
That was in late March, 2009, when Netflix shares were trading in the $40s. “Netflix fans take note: A correction is looming,” Peers wrote.
Shareholders who bought in that day have more than doubled their money.
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