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Netflix Inc. NFLX Shares,
surged 14.2% in pre-market trading on Wednesday, putting them on track to open in record territory, after the video streaming giant reported after the number of subscribers closed in the fourth quarter of the previous session, while earnings fell short of expectations. If the stock maintains its early gain until close, it would score the best one-day post-earnings performance since releasing third quarter 2016 results on October 18, 2016, when the stock rose 19, 0%, based on FactSet data. Netflix’s results generally disappointed investors, as the stock had fallen the day after the last four quarterly results and after seven of the last eight results. In the past 20 quarters, the stock has risen just seven times the day after earnings. The stock is heading for an open well above the record September 1, 2020 close of $ 556.55, but below the intraday high of $ 575.37 on July 13, 2020. It slipped 4.5% to over the past three months through Tuesday, while the S&P 500 SPX,
gained 10.3%.
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